Question
What are the quarterly payments on a $200,000 universal life insurance policy for a 30-year-old female with a preferred rate? Use table 1 and table
What are the quarterly payments on a $200,000 universal life insurance policy for a 30-year-old female with a preferred rate? Use table 1 and table 2.
Data table
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 usage.
Data table
Period | Percent of Annual Period Premium |
---|---|
Semiannually | 51.00 |
Quarterly | 26.00 |
Monthly | 8.75 |
The quarterly payment is=
(Round to two decimal places as needed.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started