SELECT ALL THAT APPLY! Which of the following are true about the cost of a term...
SELECT ALL THAT APPLY!
Which of the following are true about the cost of a term life insurance premium?
| A. |
The premium increases with the amount of the benefit. |
|
| B. |
The premium increases with the term of the policy. |
|
| C. |
The premium decreases with the age of the insured. |
|
| D. |
The premium increases with the age of the insured. |
|
| E. |
The fair premium amount is the expected value of the benefit amount. |
|
| F. |
The fair premium amount is the actuarial present value of the benefit amount. |
Homework Answers
A. The premium increases with the amount of the benefit.
B. The premium increases with the term of the policy.
D. The premium increases with the age of the insured
F. The fair premium amount is the actuarial present value of the benefit amount
These statements apply ot Insurance.
Statement C & E are not applicable.
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