Use the SULT and 5% interest to find the following

a) A whole life insurance policy on [48] pays $300,000 at the end of the year of death.

i) Find the annual net premium.

ii) Find the probability that the net loss at issue is less than zero.

iii) Without doing further calculations indicate whether the net premium for the policy would increase, decrease or stay the same if the benefit was payable at time of death. Justify your answer.

b) Find the annual net premium for a 10-year term insurance on [61] paying $200,000 at the end of the year of death