You have been appointed as the person-in-charge in drafting a brand new 5 years term insurance policy for males and females at the age of 30 onwards for five years.

Age at Beginning	Number Living at	Number of dying	Present value of RM1 @ 5%
of the year	Beginning of year	during the year	Year	Factor
30	9,800,822	11,137	1	0.9524
31	9,789,650	11,062	2	0.9070
32	9,778,587	11,050	3	0.8638
33	9,767,537	11,233	4	0.8227
34	9,756,305	11,512	5	0.7835

1. Refer to the information above, you are required to generate Net Single Premium (NSP) for a five years term insurance policy for every USD1,000 issued to a male or female at the age between 25 to 29. (6 marks)

2. You are required to interpret the answer generated in (a). (4 marks)

3. Based on the NSP generated in (a), compute the net annual level premium for an ordinary life insurance policy. (7 marks)