Question text The table given below lists a few ages and probabilities of death at those...
Question text The table given below lists a few ages and probabilities of death at those ages for a certain segment of the population. Age 60 61 62 63 64 P(death at this age) 0.00756 0.00825 0.00896 0.00965 0.01035 a. Suppose an insurance company offers a $50,000 term (fixed pay-out) life insurance policy to a person in this demographic to cover the five years listed. What is the expected cost (loss) to the company for a death of one individual who purchases the insurance upon turning 60 for the entire five-year period? (10) b. If the company wants to make a profit of $550 above its expected total cost per indivudual, what premium should it charge? (4)
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Question text The table given below lists a few ages and
probabilities of death at those...
Sara is a 60-year-old Anglo female in reasonably good health. She wants to take out a...
Sara is a 60-year-old Anglo female in reasonably good health. She wants to take out a $50,000 term (i.e., straight death benefit) life insurance policy until she is 65. The policy will expire on her 65th birthday. The probability of death in a given year is provided. 63 64 X = age 60 61 62 P(death at this age) 1 0.00607 0.00803 0.00875 0.01062 0.01165 Sara is applying to Big Rock Insurance Company for her term insurance policy. (a) What...
Sara is a 60-year-old Anglo female in reasonably good health. She wants to take out a...
Sara is a 60-year-old Anglo female in reasonably good health. She wants to take out a $50,000 term (i.e., straight death benefit) life insurance policy until she is 65. The policy will expire on her 65th birthday. The probability of death in a given year is provided. x = age 60 61 62 63 64 P(death at this age) 0.00610 0.00968 0.00809 0.00945 0.01060 Sara is applying to Big Rock Insurance Company for her term insurance policy. (a) What is...
Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a...
Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a $50,000 term (that is, straight death benefit) life insurance policy until he is 65. The policy will expire on his 65th birthday. The probability of death in a given year is provided by the Vital Statistics Section of the Statistical Abstract of the United States (116th Edition). x = age 60 61 62 63 64 P(death at this age) 0.01087 0.01420 0.01630 0.01960 0.02206...
Jim is a 60-year-old male in reasonably good health. He wants to take out a $75,000...
Jim is a 60-year-old male in reasonably good health. He wants to take out a $75,000 term (that is, straight death benefit) life insurance policy until he is 65. The policy will expire on his 65th birthday. The probability of death in a given year is provided by the Vital Statistics Section of the Statistical Abstract of the United States (116th edition) X=age 60 61 62 63 64 P(death at this age) 0.01091 0.01192 0.01296 0.01403 0.01513 Jim is applying...
Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a...
Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a $50,000 term (i.e., straight death benefit) life insurance policy until he is 65. The policy will expire on his 65th birthday. The probability of death in a given year is provided. x = age 60 61 62 63 64 P(death at this age) 0.01078 0.01441 0.016510.02065 0.02236 Jim is applying to Big Rock Insurance Company for his term insurance policy. (a) What is the...
Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a...
Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a $50,000 term (i.e., straight death benefit) life insurance policy until he is 65. The policy will expire on his 65th birthday. The probability of death in a given year is provided. x = age 60 61 62 63 64 P(death at this age) 0.01180 0.01438 0.01780 0.01909 0.02209 Jim is applying to Big Rock Insurance Company for his term insurance policy. (a) What is...
lim is a 60 year old Anglo male in reasonably good health. He wants to take...
lim is a 60 year old Anglo male in reasonably good health. He wants to take out a $50,000 term that is, straight death benefit) life insurance policy until he is 65. The policy will expire on his oth birthday. The probability of death in a given year is provided by the Vital Statistics Section of the Statistical Abstract of the United States (116th Edition) 60 death at this age 2012 Jim is applying to Big Rock Insurance Company for...
Based on, “75 Must Know Statistics about Long-Term Care,” Please discuss four conclusions you can come...
Based on, “75 Must Know Statistics about Long-Term Care,” Please discuss four conclusions you can come to for the problems that the long term care industry will face in the coming decade. You must include statistics from the article. 75 Must-Know Statistics About Long-Term Care Christine Benz 31 Aug 2017 In my years of speaking to groups of retirees and pre-retirees, I've learned that there are a handful of topics that will send an event completely out of my control....
Complete the Budgeted Income Statements below based on the information given - Check figures are given...
Complete the Budgeted Income Statements below based on the
information given - Check figures are given below
6 7 Check figures are: January Budgeted Gross Margin = $62,650; February Budgeted 8 Operating Income = $23,442; March Budgeted Net Income = $13,353. 9 10 Solution: Get Laughy Taffy, Inc. BUDGETED INCOME STATEMENTS For the Month Ending, Jan 31, 2020 Feb 29, 2020 Mar 31, 2020 16 Sales 17 Cost of Sales 18 Gross Margin 20 Other Operating Expenses 21 Commission Expense...
Sara is a 60-year-old Anglo female in reasonably good health. She wants to take out a $50,000 term (i.e., straight death benefit) life insurance policy until she is 65. The policy will expire on her 65th birthday. The probability of death in a given year is provided. 63 64 X = age 60 61 62 P(death at this age) 1 0.00607 0.00803 0.00875 0.01062 0.01165 Sara is applying to Big Rock Insurance Company for her term insurance policy. (a) What...
Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a $50,000 term (i.e., straight death benefit) life insurance policy until he is 65. The policy will expire on his 65th birthday. The probability of death in a given year is provided. x = age 60 61 62 63 64 P(death at this age) 0.01078 0.01441 0.016510.02065 0.02236 Jim is applying to Big Rock Insurance Company for his term insurance policy. (a) What is the...
Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a $50,000 term (i.e., straight death benefit) life insurance policy until he is 65. The policy will expire on his 65th birthday. The probability of death in a given year is provided. x = age 60 61 62 63 64 P(death at this age) 0.01180 0.01438 0.01780 0.01909 0.02209 Jim is applying to Big Rock Insurance Company for his term insurance policy. (a) What is...
lim is a 60 year old Anglo male in reasonably good health. He wants to take out a $50,000 term that is, straight death benefit) life insurance policy until he is 65. The policy will expire on his oth birthday. The probability of death in a given year is provided by the Vital Statistics Section of the Statistical Abstract of the United States (116th Edition) 60 death at this age 2012 Jim is applying to Big Rock Insurance Company for...
Complete the Budgeted Income Statements below based on the
information given - Check figures are given below
6 7 Check figures are: January Budgeted Gross Margin = $62,650; February Budgeted 8 Operating Income = $23,442; March Budgeted Net Income = $13,353. 9 10 Solution: Get Laughy Taffy, Inc. BUDGETED INCOME STATEMENTS For the Month Ending, Jan 31, 2020 Feb 29, 2020 Mar 31, 2020 16 Sales 17 Cost of Sales 18 Gross Margin 20 Other Operating Expenses 21 Commission Expense...
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