What are the monthly payments on a $100,000 whole life insurance policy for a 30 year old female with a preferred rate Use table 1 and table 2 view Table 1, Estimated annual life insurance premium rates per $1,000 of face value view Table 2, Premium rates for periods less than one year The monthly payment is $ (Round to two decimal places as needed ) Estimated Annual Life Insurance Premium Rates per $1,000 of Face Value 10 Year Level Term 20 Year Level Term Age Male Female Age Male Female PREF NT T PREF NT T PREF NT T PREF NT T 20 0 87 1 27 2 28 0 75 1 10 1 88 20 1 09 1 50 2 86 0 91 1 31 2 56 25 0 87 1 27 2 28 0 75 1 10 1 88 25 1 09 1 50 2 86 0 91 1 31 2 56 30 0 87 1 36 2 49 0 75 1 16 2 06 30 1 12 1 61 3 24 0 96 1 42 2 67 35 0 87 1 44 2 73 0 75 1 26 2 23 35 1 17 1 73 3 62 1 02 1 53 2 78 40 1 13 1 96 3 78 1 00 1 57 2 93 40 1 49 2 36 5 38 1 26 2 00 3 77 45 1 51 2 69 5 33 1 38 2 12 4 08 45 2 23 3 73 8 42 1 75 2 92 5 57 50 2 03 3 76 8 08 1 72 2 98 5 78 50 3 45 5 99 12 90 2 59 4 40 8 02 55 2 95 5 61 12 48 2 27 4 44 8 33 55 5 38 9 52 19 15 3 96 6 66 11 45 60 4 61 9 07 20 07 3 46 6 95 12 57 60 8 46 15 15 29 14 6 17 10 36 16 74 Whole Life Universal Life Age Male Female Age Male Female PREF NT T PREF NT T PREF NT T PREF NT T 20 8 39 9 02 10 55 7 55 8 12 9 95 20 5 25 5 78 7 17 4 53 4 65 5 97 25 9 51 10 22 12 70 8 65 9 30 11 59 25 6 21 6 69 8 61 5 37 5 61 7 17 30 10 86 11 68 14 77 9 82 10 56 13 48 30 7 41 8 13 10 29 6 45 6 81 8 73 35 12 37 13 30 16 59 10 97 11 80 14 85 35 9 09 9 93 12 69 7 89 8 25 10 77 40 14 42 15 50 19 31 12 54 13 48 16 69 40 11 25 12 33 15 69 9 69 10 17 13 41 45 17 65 18 98 24 03 15 14 16 28 20 43 45 14 01 15 45 19 65 12 09 12 69 16 77 50 22 45 24 14 30 65 19 09 20 53 25 39 50 17 61 19 17 24 45 15 09 16 05 21 33 55 28 67 30 82 39 00 24 11 25 92 30 97 55 22 41 24 57 31 41 18 93 20 25 26 97 60 36 06 38 77 49 39 29 75 31 99 37 25 60 28 77 34 53 43 65 23 97 28 29 37 53 PREF preferred, NT non tobacco, and T tobacco Table 2 Premium Rates for Periods Less Period Percent of Annual Period Premium Semiannually 51 00 Quarterly 26 00 Monthly 8 75

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 29, 2024

What are the monthly payments on a $100,000 whole-life insurance policy for a 30-year-old female with a preferred rate? Use table 1 and table 2.

What are the monthly payments on a $100,000 whole-life insurance policy for a 30-year-old female with a preferred rate? Use table 1 and table 2. view Table 1, Estimated annual life insurance premium rates per $1,000 of face value. view Table 2, Premium rates for periods less than one year.

The monthly payment is $

(Round to two decimal places as needed.)

Estimated Annual Life Insurance Premium Rates per $1,000 of Face Value
10-Year Level Term							20-Year Level Term
Age	Male			Female			Age	Male			Female
	PREF	NT	T	PREF	NT	T		PREF	NT	T	PREF	NT	T
20	0.87	1.27	2.28	0.75	1.10	1.88	20	1.09	1.50	2.86	0.91	1.31	2.56
25	0.87	1.27	2.28	0.75	1.10	1.88	25	1.09	1.50	2.86	0.91	1.31	2.56
30	0.87	1.36	2.49	0.75	1.16	2.06	30	1.12	1.61	3.24	0.96	1.42	2.67
35	0.87	1.44	2.73	0.75	1.26	2.23	35	1.17	1.73	3.62	1.02	1.53	2.78
40	1.13	1.96	3.78	1.00	1.57	2.93	40	1.49	2.36	5.38	1.26	2.00	3.77
45	1.51	2.69	5.33	1.38	2.12	4.08	45	2.23	3.73	8.42	1.75	2.92	5.57
50	2.03	3.76	8.08	1.72	2.98	5.78	50	3.45	5.99	12.90	2.59	4.40	8.02
55	2.95	5.61	12.48	2.27	4.44	8.33	55	5.38	9.52	19.15	3.96	6.66	11.45
60	4.61	9.07	20.07	3.46	6.95	12.57	60	8.46	15.15	29.14	6.17	10.36	16.74
Whole Life							Universal Life
Age	Male			Female			Age	Male			Female
	PREF	NT	T	PREF	NT	T		PREF	NT	T	PREF	NT	T
20	8.39	9.02	10.55	7.55	8.12	9.95	20	5.25	5.78	7.17	4.53	4.65	5.97
25	9.51	10.22	12.70	8.65	9.30	11.59	25	6.21	6.69	8.61	5.37	5.61	7.17
30	10.86	11.68	14.77	9.82	10.56	13.48	30	7.41	8.13	10.29	6.45	6.81	8.73
35	12.37	13.30	16.59	10.97	11.80	14.85	35	9.09	9.93	12.69	7.89	8.25	10.77
40	14.42	15.50	19.31	12.54	13.48	16.69	40	11.25	12.33	15.69	9.69	10.17	13.41
45	17.65	18.98	24.03	15.14	16.28	20.43	45	14.01	15.45	19.65	12.09	12.69	16.77
50	22.45	24.14	30.65	19.09	20.53	25.39	50	17.61	19.17	24.45	15.09	16.05	21.33
55	28.67	30.82	39.00	24.11	25.92	30.97	55	22.41	24.57	31.41	18.93	20.25	26.97
60	36.06	38.77	49.39	29.75	31.99	37.25	60	28.77	34.53	43.65	23.97	28.29	37.53