Calculate the annual premium for the following policy. (Use Table 20.1.) Amount of coverage (face value of policy) Age and sex of insured Type of insurance policy Annual premium $200,000 42 (M) 20-payment life
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Calculate the annual premium for the following policy. (Use Table 20.1.)
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- Calculate the annual premium for the following policy. (Use Table 20.1.) (for females subtract 3 years from the table.) (Round your answer to the nearest cent.) **TABLE ATTACHED***** Amount of coverage (face value of policy) Age and sex of insured Type of insurance policy Annual premium $50,000 27 (F) 20-year endowmentA fully discrete life insurance policy is issued to (30). The death benefit is 1000 plus the benefit reserve at the end of the year of death. The net level premium is 150, and the reserve at the end of the second policy year is 117.875. Given that q30 = q31 = .1, determine the effective interest rate i.Using Table 19-1 and Table 19-2 find the following premiums for a 10-year term life insurance policy with a face value of $30,000 for a 28-year-old male. A. Annual premium B. Semiannual premium C. Quarterly premium D. Monthly premium Life Insurance—Premium FactorsPremium Paid Percent of Annual PremiumSemiannually 52%Quarterly 26%Monthly 9%
- Using Table 19-1 and Table 19-2, calculate the annual, semiannual, quarterly, and monthly premiums (in $) for the life insurance policy. Round your answers to the nearest cent. Face Valueof Policy Sex and Ageof Insured Type of Policy AnnualPremium SemiannualPremium QuarterlyPremium MonthlyPremium $70,000 male—40 whole life $ $ $ $Choose the best retirement plan for the employee from among those presented below. Effective interest is 12.68% pa.a. P1.4M now b. P64,000/month for 2 years c. P1.65M on the 18th month d. P100,000/month for 1 year plus P400,000 after one yearSubject :- Accounting Helen is contemplating purchasing a single premium annuity from an insurance company. The insurance company is promising to pay $594000 after 8 years. They are estimating a 10% annual return. What amount should Helen pay the insurance company today? $742500 $275137 $277107 $594000
- The average Roman’s lifespan 2,000 years ago was 22 years. In 1900, a person was expected to live 47.3 years. In 2017, life expectancy is 78.5. Assume you are a 47-year-old female. (Use Table 20.1.) (for females subtract 3 years from the table.) (Leave no cells blank - be certain to enter "0" wherever required.) ***TABLE ATTACHED**** a. What annual premium would you pay for a $200,000, 5-year term life insurance policy? Annual premium b. What is the cash value after 3 years? Cash valueQuestion 1Mr. and Mrs. Haddad have contributed $2025.00 per six months for the last eighteen years into RRSP accounts earning 6.92 % compounded semi - annually. a) How much will Mr. and Mrs. Haddad have in total in their RRSP accounts? b) How much did the Haddad's contribute? c) How much will be interest? PMT = $IY = CY = i = n = Total in RRSP account $Total Contibution =$ Interest =$ Blank 1: Blank 2: Blank 3: Blank 4: Blank 5: Blank 6: Blank 7: Blank 8:For a fully discrete whole life insurance of 100,000 on (45): (i) whole life annuity on 45, a45 = 14.85 (ii)i= 0.06 Calculate the annual net premium.
- Question 1 (Assume that a pension plan offers to pay $300,000 on a person’s retirement (his/her sixty-fifth birthday) or a semi-annual annuity for the remainder of the person’s life– i.e.,starting 6 months from the date of retirement and including his/her date of death. Interest rates are 8 percentcompounded semi-annually , and a person’s life expectancy has been determined statistically as being 85 years. Calculate the amount of the annuity that would make a person indifferent between the options? Question 2 A person joins a pension plan at age 35. How much will she have to pay into the pension fund each year in order to accumulate a balance of $250,000 by the time s/he retires (age 65)? Assume that the payments start on his/her 35th birthday and the final payment is on his/her 60th birthday. Interest rates are 7% compounded annually. Question3 a) Laura Smith is planning for her and her husband Luke’s retirement. Both Luke and Laura expect to retire in 35 years (when they turn 65).…Q) On 1 February 2021, a parent made a long-term loan of £40 million to itssubsidiary. The interest on the loan is 8% per annum and is payable every sixmonths, starting 1 May, 2021. The year end is 30 April 2021. The groupfinance charges figure for the period is:a) Increased by £800,000b) Decreased by £800,000c) Increased by £3,200,000d) Decreased by £3,200,00 Which of the above option is correct and whyConsider a 25-year term insurance issued to a life aged 35 with annual premiums payable throughout the policy term, with sum insured $100,000 payable at the end of the year of death if death occurs during the term. Expenses are as follows: 10% of the 1st annual premium and 2% of each subsequent premium, with an inception expense of $100 and renewal expenses of (at the time of the payment of the 2nd and each subsequent premium) of $15. Calculate the annual premium (using the equivalence principle). Use table D (Standard Ultimate Survival Model) with i=5%.