Question
In: Advanced Math
A 55-year old buys a continuous increasing whole life insurance. The benefit payable at the moment...
A 55-year old buys a continuous increasing whole life insurance. The benefit payable at the moment of death (time t) is equal to bt=1000t.
Mortality is DeMoivre, with ω=100;δ=0.06
Find the Net Single Premium of this insurance.
Solutions
Colby Messinger answered 2 years agoRelated Solutions
Life Insurance: Your company sells life insurance. You charge a 55 year old man $60 for...
Life Insurance: Your company sells life
insurance. You charge a 55 year old man $60 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 $60. Based on
historical data (relative frequency approximation) the average 55
year old man has a 0.9995 probability of living another year.
(a) What is your expected profit on this policy?
$
(b) What is an accurate interpretation of...
The best life insurance policy for the payment of federal estate taxes for a 55-year-old couple...
The best life insurance policy for the payment of federal estate
taxes for a 55-year-old couple with illiquid assets is A. AN
individual whole life policy on each spouse on a cross-ownership
basis B. A joint first to die life insurance policy owned jointly
C. A jount last to die insurance policy owned by the spouse with
the larger estate D. A joint and last to die insurance policy owned
be an irrevocable life insurance trust
3. Suppose a whole-life policy from the insurance company has a 55% chance of lapsing in...
3. Suppose a whole-life policy from the insurance company has a
55% chance of lapsing in its first year.
a. Describe the sample space for the variable L if L denotes the
single event of the policy lapsing
b. What type of distribution would this be?
c. Assign probabilities to each value of L d. Calculate the
expected value and the variance of L
d. Calculate the expected value and the
variance of L
3. Suppose a whole-life policy from the insurance company has a 55% chance of lapsing in...
3. Suppose a whole-life policy from the insurance company has a
55% chance of lapsing in its first year.
Describe the sample space for the variable L if L denotes the
single event of the policy lapsing (0.5
point)
What type of distribution would this be? (0.5
point)____________________________________
Assign probabilities to each value of L (0.5
point)
Calculate the expected value and the variance
of L (0.5 point)
For Reference:
An insurance company is concerned about the persistency (length
of...
HC is a 55 year old female on a continuous infusion of an antibiotic. The total...
HC is a 55 year old female on a continuous infusion of an
antibiotic. The total dose that will be given is 1500 mg over 16
hours. The volume of distribution is 51 L and the drug half life is
6.5 hours.
What is the plasma drug concentration if a blood sample is taken 17
hours after the infusion began? Note: Please provide your
answer in units of mg/L.
____
Your company sells life insurance. You charge a 55 year old man $60 for a one...
Your company sells life insurance. You charge a 55 year old man
$60 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 $60.
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 this
value?
It...
A $500,000 whole life policy is available for $5150 per year, payable at the beginning of...
A
$500,000 whole life policy is available for $5150 per year, payable
at the beginning of the year. If 10% of this amount pays for
insurance, and 90% goes into a saving plan, what is the cash value
of the policy after 10 years? the insurance company guarentees a
rate of 22.98% per year.
All of the following statements concerning whole life insurance are correct EXCEPT If the whole life...
All of the following statements concerning whole life insurance
are correct EXCEPT
If the whole life insurance premiums are to be paid throughout
the insured’s lifetime, the insurance is known as limited-payment;
if the whole life insurance premiums are to be paid only during a
specified period, the insurance is designed as ordinary life
Whole life insurance offers permanent protection with cash
values, and it can be either
participating or nonparticipating
The protection afforded by the whole life insurance contract...
What is the difference between Whole Life Insurance and Term life Insurance policies?
What is the difference between Whole Life
Insurance and Term life Insurance
policies?
What is better whole life or term insurance?
What is better whole life or term insurance?
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