Age # People Living # People Dying Prob. of Dying Probability of Living 35 949,1
ID: 2686583 • Letter: A
Question
Age
# People Living
# People Dying
Prob. of Dying
Probability of Living
35
949,171
2,003
0.00211
1.0
36
947,168
2,121
0.00224
0.9979
37
945,047
2,268
0.00240
0.9957
38
942,779
2,432
0.00258
0.9933
39
940,346
2,623
0.00279
0.9907
Using the mortality table again, what would an annual premium be for a 5-year term policy with a $10,000 benefit if the upfront payment is $101.29 and the interest rate is 6%? (use the probability of living statistics from the table)
Age
# People Living
# People Dying
Prob. of Dying
Probability of Living
35
949,171
2,003
0.00211
1.0
36
947,168
2,121
0.00224
0.9979
37
945,047
2,268
0.00240
0.9957
38
942,779
2,432
0.00258
0.9933
39
940,346
2,623
0.00279
0.9907
Explanation / Answer
$95.17