ZuoTi.Pro
Question

2. Assume that all of the life insurance policies listed below are sold by the same life insurer, and have the same expense a
business   finance   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Request Professional Answer

Request Answer!

We need at least 10 more requests to produce the answer.

0 / 10 have requested this problem solution

The more requests, the faster the answer.

Request! (Login Required)

All students who have requested the answer will be notified once they are available.
Know the answer?
Add Answer to:
2. Assume that all of the life insurance policies listed below are sold by the same...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Similar Homework Help Questions

  • An insurer has 5 independent one-year term life insurance policies. The face amount on each policy...

    An insurer has 5 independent one-year term life insurance policies. The face amount on each policy is 100,000. The probability of a claim occurring in the year for any given policy is 0.2. Find the probability the insurer will have to pay more than the total expected claim for the year.

  • 104 Life Insurance-Term and Other The main purpose of life insurance is to provide financial protection...

    104 Life Insurance-Term and Other The main purpose of life insurance is to provide financial protection for your dependents in case of your death. You may purchase term life insurance, whole life insurance, limited payment life insurance, of endowment life insurance. ANNUAL PREMIUM - NUMBER OF UNITS PURCHASED X PREMIUM PER $1000 Use the tables below to answer the problems. ANNUAL PREMIUM PER $1000 OF LIFE INSURANCE: 5-YR TERM Age 18 20 25 30 35 45 55 65 Male $...

  • Understanding universal life insurance Universal life insurance combines elements from term and whole life insurance. Term...

    Understanding universal life insurance Universal life insurance combines elements from term and whole life insurance. Term policies provide a death benefit _______ savings component, whole life policies provide a death benefit _______ savings component, and universal policies provide a death benefit _______ savings component. To understand how universal premiums are allocated, consider the following example. Kathy is a 37-year-old lawyer who has taken out a universal life insurance policy to protect her two children (ages 8 and 6) in the...

  • An insurer has a portfolio of 1000 one-year term life insurance policies just issued to 1000...

    An insurer has a portfolio of 1000 one-year term life insurance policies just issued to 1000 different (independent) individuals. Each policy will pay $1000 in the event that the policy holder dies within the year. For 500 of the policies, the probability of death is 0.01 per policyholder, and for the other 500 policies the probability of death is 0.02 per policyholder. Find the expected value and the standard deviation of the aggregate claim that the insurer will pay.

  • Question 37 remaining letter. D) If a departing employee elects to convert a lofe insurance policy,...

    Question 37 remaining letter. D) If a departing employee elects to convert a lofe insurance policy, the insurer must offer term insurance as one of the choices. 34 If an insured commits suicide after the suicide clause in the insured's life insurance policy has expired, the insurer will take which of the following actions? a) Refuse to pay the death benefit or refund any premiums b) Refund only the premiums paid c) Refund the premiums paid plus interest d) Pay...

  • Insurance companies track life expectancy information to assist in determining the cost of life insurance policies....

    Insurance companies track life expectancy information to assist in determining the cost of life insurance policies. Life expectancy is a statistical measure of average time a person is expected to live, based on a number of demographic factors. Mathematically, life expectancy is the mean number of years of life remaining at a given age, assuming age-specific mortality rates remain at their most recently measured levels.          Last year the average life expectancy of all the Life Insurance policyholders in Ontario...

  • Life Insurance: Your company sells life insurance. You charge a 55 year old man $70 for...

    Life Insurance: Your company sells life insurance. You charge a 55 year old man $70 for a one year, $100,000 policy. If he dies over the course of the next year you pay out $100,000. If he lives, you keep the $70. Based on historical data (relative frequency approximation) the average 55 year old man has a 0.9998 probability of living another year. (a) What is your expected profit on this policy? $ (b) What is an accurate interpretation of...

  • 6. All the following statements about yearly renewable term (YRT) insurance are true EXCEPT: The insured...

    6. All the following statements about yearly renewable term (YRT) insurance are true EXCEPT: The insured is not required to prove insurability to renew YRT coverage.                   YRT is the least expensive form of life insurance at a given age.            YRT is not appropriate if the goal is permanent, life-time, protection. YRT builds cash value gradually over time. YRT premiums increase at an increasing rate each year as the coverage is renewed.

  • A life insurance company charges a 30 year old male a premium of $250 for a...

    A life insurance company charges a 30 year old male a premium of $250 for a $100,000 one-year life insurance policy. Suppose a 30 year old male has a 0.9985 probability of living for a year (based on data from the National Center for Health Statistics). (b) Is it worth for buying this insurance? Why?

  • QUESTION 29 The Qualified State Long Tem Care Partnership program is designed to encourage more people...

    QUESTION 29 The Qualified State Long Tem Care Partnership program is designed to encourage more people to purchase long-term care insurance. Which of the following statements is not corect regarding Partnership-qualified (PO) long-term policies? PQs include inflation protection, so the dollar amount of benefits received can be higher than the amount of insurance coverage purchased O POs allow people to apply for Medicaid under modified eligibility rules if there is continued need for long-term care after the policy maximum is...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT