A company charges a net single premium of S6,000 for a life insurance policy with face amount $25,000. The force of interest for this policy is 4 Find the probability that the company makes a profit if Benefit paid at the moment of death and the survival function is So(t) = 1- for 0
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- Calculate the life insurance gross premium for an insurance company, XYZ Life, under the following assumptions. Please round your answer to the nearest dollar. 1-year term insurance for a 35-year-old female • The death benefit is $10,00O • The probability of death within one year given a female is 35 years old (q30) is 0.015 The interest rate is 1.5% • All deaths occur uniformly, hence for simplicity, price the product assuming all deaths happen at the middle of the year • XYZ Life is looking for a 25% loading based on the pure premium (i.e. PV of expected loss) (Hint: When loading Ap, expressed as a percentage, is based on pure premium, Gross premium = Pure premium × [1 + Ap]) Choose the correct answer from below. $166 $171 $149 $155 O $1867. A net premium of $41 payable for life will provide (x) with either $5,000 n-year term insurance followed by $1,000 whole life insurance after age x + n, or $3,000 n-year term insurance followed by $2,000 whole life insurance after age x + n. What is 1000 · Px ? A) 17.37 B) 17.47 C) 17.57 D) 17.67 E) 17.77show that Ar Exercise 4.4 A whole life insurance policy issued to a life aged execd, o has an increasing sum insured. In the th policy year, insured is $100000 (1.03'-1). Using the Standard Ultimate Survival Modal with interest at 5% per year, calculate the EPV of this benefit. 1, 2, 3, ..., the sum how do you calculate A_30 at the new interest rate?
- Kk105. Find the annual premium. Face Value: $30,000 Age of Insured: 50 Sex of Insured: M Type of Policy: Universal lifeA perpetuity pays $85 per year and costs $3,580. What is the rate of return? Select the correct answer. O a. 4.17% Ob. 3.27% O c.0.57% d. 2.37% O e. 1.47%Find the following: (Round your answer to the nearest cent.) Face Value Age and Sex of Insured Type of Insurance Annual Premium $26,000 37F Straight Life
- A business owner plans to deposit his annual profits in an investment account earning a 9% annual return. If the owner starts with their first deposit today for $22,000 and expects to make the same profit for the next 7 years, how much will be saved for retirement at that point? Please check if my answer is correct, if not please correct me. Answer: Answer:1,200, n = 6, r = 9% (1+r)^n -1 /r (1+0.09%)^7 - 1/0.09 (1.09)^7 - 1/0.09 1.8280391208 -1/0.09 = 9.2004346756 22,000*9.2004346756 = $202,409.56how to do part two of the question? Calculate the value of the tenant's interest based upon a return of j, = 8%. Round your answer to the nearest $100. (1) $6,100 (2) $8,400 (3) $7,200 (4) $9,300Not use excel Q)A man may take $50000 cash or 10 equal monthly payments on a life insurance policy, where the first payment is to be made immediately. What is the monthly payment if money is worth 3% compounded monthly?
- Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $150, the probability of a fire is 0.1%, and in the event of a fire, the insured damages (the payout on the policy) will be $140,000. Required: a. Make a table of the two possible payouts on each policy with the probability of each. (Negative answers should be indicated with a minus sign.) b. Suppose you own the entire firm, and the company issues only one policy. What are the expected value, variance, and standard deviation of your profit? (Do not round intermediate calculations. Round your standard deviation to the nearest whole number.) c. Now suppose your company issues two policies. The risk of fire is independent across the two policies. Make a table of the three possible payouts along with their associated probabilities. (Negative answers should be indicated with a minus sign. Round your "Probability" answers to 4 decimal places.) d. What are the expected value, variance, and…Standard Insurance is developing a long - life insurance policy for people who outlive their retirement nest egg. The policy will pay out $240 comma 000240,000 on your 82 nd82nd birthday. You must buy the policy on your 65 th65th birthday. The insurance company can earn 55% on the purchase price of your policy. What is the minimum purchase price the insurance company should charge for this policy? Question content area bottom Part 1 What is the minimum purchase price the insurance company should charge for this policy?7 Calculate the Amount to be paid (in) by Insurance Company for the Claim, Rond Your answer to the Nearest Cint eplcement Uake of Face of value Coinsurance Building - $360,000 Policy $300,000 Claus 1. 90 Amount of loss Amont of Loss $145,000 Insurance Company Pay? ↑ will