Use Table 13-1 to solve the following problem involving Life Tables.
-An individual who has just reached thei birthday wants to purchase a one-year term life-insurance policy that would pay $20,000 in the event of their death before the age of 70. What is the minimum amount that an insurance company must charge for this policy, assuming that this minimum amount would result in no gain or loss for the insurance company issuing many policies under the same circumstances?

Question

Use Table 13-1 to solve the following problem involving Life Tables.
-An individual who has just reached thei  birthday wants to purchase a one-year term life-insurance policy that would pay $20,000 in the event of their death before the age of 70. What is the minimum amount that an insurance company must charge for this policy, assuming that this minimum amount would result in no gain or loss for the insurance company issuing many policies under the same circumstances?

Quizplus · Accepted Answer

The Answer of Use Table 13-1 to solve the following problem involving Life Tables.
-An individual who has just reached thei  birthday wants to purchase a one-year term life-insurance policy that would pay $20,000 in the event of their death before the age of 70. What is the minimum amount that an insurance company must charge for this policy, assuming that this minimum amount would result in no gain or loss for the insurance company issuing many policies under the same circumstances?

Use Table 13-1 to Solve the Following Problem Involving Life