Business, 29.02.2020 04:23 mariaaalopezz

A single premium whole life annuity-due is issued to (65) that pays a monthly benefitof $1,000. The first 10 years of payments are guaranteed. The only expenses are $700at issue and $45 per year in renewal years.(Assume that the renewal expenses areincurred only while the policyholder is alive.) Assume that mortality is given by theILT; use the UDD fractional age assumption where necessary. Also assume an annualeffective interest rate of 6%.(a) Calculate the net single premium for this policy. [123,570](b) Calculate the gross single premium for this policy. [124,670](c) Calculate8Vn,8Vg, and8Vefor this policy, assuming the insured is alive at thattime. [88,420, 88,770, 350](d) Calculate12Vnfor this policy. [74,610](e) Calculate0.05p76.95for this person. [0.997](f) Calculate11.95Vnfor this policy. [74,170]

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A single premium whole life annuity-due is issued to (65) that pays a monthly benefitof $1,000. The...

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