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
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
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Calculate the annual premium for the following policy. (Use Table 20.1.)
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Transcribed Image Text:TABLE 20-1
Five-year
Stralght
Twenty-
payment life
Twenty-year
Age
term
Age
life
Age
Age
endowment
Life insurance rates for males (for
females, subtract 3 years from the
age)?
20
1.85
20
5.90
20
8.28
20
13.85
21
1.85
21
6.13
21
8.61
21
14.35
22
1.85
22
6.35
22
8.91
22
14.92
23
1.85
23
6.60
23
9.23
23
15.54
24
1.85
24
6.85
24
9.56
24
16.05
25
1.85
25
7.13
25
9.9 1
25
17.55
26
1.85
26
7.43
26
10.29
26
17.66
27
1.86
27
7.75
27
10.70
27
18.33
28
1.86
28
8.08
28
11.12
28
19.12
29
1.87
29
8.46
29
11.58
29
20.00
30
1.87
30
8.85
30
12.05
30
20.90
31
1.87
31
9.27
31
12.57
31
21.88
32
1.88
32
9.71
32
13.10
32
22.89
33
1.95
33
10.20
33
13.67
33
23.98
34
2.08
34
10.71
34
14.28
34
25.13
35
2.23
35
11.26
35
14.92
35
26.35
36
2.44
36
11.84
36
15.60
36
27.64
37
2.67
37
12.46
37
16.30
37
28.97
38
2.95
38
13.12
38
17.04
38
30.38
39
3.24
39
13.8 1
39
17.81
39
31.84
40
3.52
40
14.54
40
18.61
40
33.36
41
3.79
41
15.30
41
19.44
41
34.94
42
4.04
42
16.11
42
20.31
42
36.59
43
4.26
43
16.96
43
21.21
43
38.29
44
4.50
44
17.86
44
22.15
44
40.09
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