Using the premium schedules provided in thibit 8.2. Exibit, and Exhibit 8.5, how much in annual premium would a 25 year old male have to buy for $100,000 of meleten premium term, and whole e murance? (Assume a 15-year term or period of coverage) How much would a 25-year-old woman have to pay for the same coverage on the smage of me first and the last years' premiums in your calculations for the annual renewable terme instance) Round your answers to the morrest dolu Annual Renewable Teim Level-Premur Term Whole Life Male $ Female $ Consider a 40-year-old male or female): Using annual premiums, compute the total cost of 15 years of coverage under and renewable and level rerum tempus and we Wewe coverage (Hot Use the average of the first and the fast years omvumu in your calculations for the annual renewabletom We insurance. Round your answers to the rest Annual Rerwatie Term Level Premam den Whole Life Male $ Female $ Rolate the advantages and disadvantages of each policy type to their price differences The input in the box below will not be ruded, but may be reviewed and considered by your instructor EXHIBIT 8.2 Representative Annual Renewable Term Life Insurance Premiums: $100,000 Policy, Preferred Nonsmoker Rates When you buy term life insurance, you're buying a product that provides life insurance coverage and nothing more. This table shows representative rates for several age categories and selected policy years; actual premiums increase every year. As you can see, females pay less than males for coverage and premiums increase sharply with age. AGE 25 AGE 40 AGE 60 Policy Year Male Female Mala Female Male Female $164 $143 $188 $178 $595 $471 5 167 150 228 225 920 685 10 174 163 297 264 1,579 1.108 15 186 176 388 330 2,704 1,811 20 228 225 550 443 Not available Not available 1 EXHIBIT 8.3 Representative Level Premium Term Life Rates: $100,000 Preferred Nonsmoker Policy This table shows representative annual premiums for $100,000 of level premium term life insurance. Although level premium costs less than annual renewable term for the same period, you must requality at the end of each term to retain the low premium 10 YEAR 15 YEAR 20 YEAR 30 YEAR Age Male Female Male Female Male Female Male Female 25 $120 S108 $120 $108 $125 S108 $161 $139 35 125 120 131 122 142 133 180 157 40 144 135 154 145 174 161 195 185 50 213 257 315 259 399 523 216 60 324 744 545 412 Not available 567 450 Not available 242 EXHIBIT 8.5 Representative Whole Life Insurance Annual Premiums: $100,000 Policy. Preferred Nonsmoker Rates Like any life insurance product, whole life is mos expensive the older you are. Also, whole life is more costly than tom because you're getting an investment/savings account, represented by the total cash valvo" column, in addition to le insurance coverage ANNUAL PREMIUMS PAID CASH VALUE DIVIDEND VALUE PREMIUM PAID-UP INSURANCE THROUGH YEAR 20 AT YEAR 20* AT YEAR 20" AT YEAR 20" Age Male Female Male Female Male Female Male Female Male Female 25 $1.057 $956 $21.140 $19, 120 $17116 $15.073 $5,439 55240 $12964 $19.728 30 1,218 1,099 24,360 21.980 20.749 18.163 5.807 5.582 16.320 17830 35 1.454 1,278 29.080 25.560 24 980 21,651 2079 8.167 18.964 16.783 40 1.749 1.499 29.980 34.980 29.696 14965 25.496 2934 16.365 8,439 34,797 43.660 53.600 16.765 40.574 50 20.945 12.029 26.055 1.260 42083 39.221 45.169 29.183 54.990 71.240 53,494 60 3,562 91,380 4,569 2,183 "Guard cash vosition or onged accumulated dividend curang 40% ont did **Nongsa ditions dividend options