Using the following mortality tables (male), Age Prob. death within one year Prob. Survival Life expectancy (yrs) 60 0.011407 0.85227 20.92 61 0.012315 0.84254 20.16 62 0.013289 0.83217 19.40 63 0.014326 0.82111 18.66 Calculate the minimum premium an insurance company should charge for a $1 million two-year term life insurance policy issued to a man age 60. Assume that the premium is paid at the beginning of each year and and death always takes place halfway through a year. The risk-free interest rate is 6% per annum (with semiannual compounding) a Using the following mortality tables (male), Age Prob. death within one year Prob. Survival Life expectancy (yrs) 60 0.011407 0.85227 20.92 61 0.012315 0.84254 20.16 62 0.013289 0.83217 19.40 63 0.014326 0.82111 18.66 Calculate the minimum premium an insurance company should charge for a $1 million two-year term life insurance policy issued to a man age 60. Assume that the premium is paid at the beginning of each year and and death always takes place halfway through a year. The risk-free interest rate is 6% per annum (with semiannual compounding) a