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A: We can use the provided table to determine the amount that Kenji will have to pay as premium.
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A: Since you have posted a question having multiple sub-parts. All sub-parts are solved for you below.
Q: Darlene wants to buy a $200,000 term life insurance policy. She is 34 years old. Using the premium…
A: Answer with calculation are as follows:
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- 0. Assume that upon graduation you make$63,500per year. What are the legally required costs for Social Security, Old-age, Survivors, and Disability Insurance, \& Medicare for the firm you work for in both dollar values and percentages? How much will you have to pay yourself? How much would you pay if you were self-employed earning the same amount?If Carissa has a $140,000 home insured for $110,000, based on the 80 percent coinsurance provision, how much would the insurance company pay on a $14,200 claim?A policyholder wishes to annuitize the cash value of her insurance policy at retirement. She desires an annual payment of $97.8,000 per year and the cash value is expected to be $1.5 million at retirement. Approximately how many payments can she expect to receive if annuity interest rates are 5.739 percent? (Do not round intermediate calculations. Round your answer to a whole number.)
- Tommy Cook is 19 years old and is interested in purchasing a whole life insurance policy with a face value of $80,000. a. Calculate the annual insurance premium for this policy. Note: Refer to the tables in the text for input data. Face value= Number of $1,000 = Rate per $1,000 = (whole life insurance, male -19) Annual premium = b. Calculate the monthly insurance premiums. Monthly percent Monthly premium = c. How much more will Tommy pay per year if he chooses monthly payments? Total of monthly payments = If paid monthly = More will be paidAfter the birth of your first child, you decide to buy a life insurance policy for yourself but can't decide how much to buy. In the event of your untimely death, you estimate that the life insurance money can be invested in an account earning 8% interest compounded monthly. You would like your child to get a monthly payment of $1,500.00 for 18 years.How much should your life insurance policy be worth in order to achieve your goal? I should get a life insurance policy that is worth $_______You are the beneficiary of a life insurance policy. The insurance company informs you that you have two options for receiving the insurance proceeds. You can receive a lump sum of $200,000 today or receive payments of $1,400 a month for 20 years. You can earn 6 percent on your money. Which option should you take and why?
- You are the beneficiary of a life insurance policy. The insurance company informs you that you have two options for receiving the insurance proceeds. You can receive a lump sum of $50,000 today or receive payments of $641 a month for 10 years. You can earn 6.50% on your money. What option should you take and why?Darlene wants to buy a $200,000 term life insurance policy. She is 34 years old. Using the premium table, what is her annual premium for a 10-year policy? a $100 b. $108 C$1.202 d. $1.290A 25-year-old and a 50-year-old apply for 10-year term life insurance plans. Which person will have a higher premium and why?
- You are the beneficiary of a life insurance policy. The insurance company informs you that you have two options for receiving the insurance proceeds. You can receive a lump sum of $400,000 today or receive payments of $16,000 a year for 15 years. You can earn 6 percent on your money. Which option should you take and why?A client needs assistance with retirement planning. Here are the facts: The client, Dave, is 21 years old. He wants to retire at 65. Dave has disposable income of $2,000 per month. The IRA Dave has chosen has an average annual return of 8%. Question 1. If Dave contributes half of his disposable income to the account, what will it be worth at 65? Question 2. How much would he need to contribute to have $5,000,000 at 65?A policyholder wishes to receive $5,000 per month in retirement. They plan to retire at the age of 64, the insurer is guaranteeing a 4% rate of return, and their life expectancy is 86. If they deposit each of the following amounts annually before retiring, at what age do they need to start saving? (A).$10,000 25 years old (technically, 25.60759 years old) (B).$15,000 33 years old (technically, 33.26361 years old) (C).$20,000 38 years old (technically, 38.17201 years old) (D).$25,000 41 years old (technically, 41.64589 years old)