Using Table 19-1 and Table 19-2, calculate the annual, semiannual, quarterly, and monthly premiums (in $) for the life insurance Round your answers to the nearest cent. Face Value of Policy $45,000 Sex and Age of Insured male-50 Type of Policy 20-payment life. $ Annual Premium Semiannual Premium Quarterly Premium $ $ Monthly Premium
Using Table 19-1 and Table 19-2, calculate the annual, semiannual, quarterly, and monthly premiums (in $) for the life insurance Round your answers to the nearest cent. Face Value of Policy $45,000 Sex and Age of Insured male-50 Type of Policy 20-payment life. $ Annual Premium Semiannual Premium Quarterly Premium $ $ Monthly Premium
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter8: Insuring Your Life
Section: Chapter Questions
Problem 6FPE
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Transcribed Image Text:Using Table 19-1 and Table 19-2, calculate the annual, semiannual, quarterly, and monthly premiums (in $) for the life insurance policy.
Round your answers to the nearest cent.
Age
18
19
20
21
22
Face Value
of Policy
23
24
25
26
27
28
29
30
TABLE 19-1 Annual Life Insurance Premiums (per $1,000 of Face Value)
35
40
$45,000
45
50
55
60
5-Year
Term
Male
$2.32
2.38
243
2.49
2.55
2.62
32.69
2.77
2.84
2.90
2.98
3.07
3.14
Sex and Age
of Insured
3.43
4.23
6.12
9.72
16.25
24.10
Term Insurance
Female
$ 1.90
1.96
2.07
2.15
2.22
2.30
2.37
2.45
2.51
2.58
male-50
2.64
2.70
2.78
2.92
3.90
5.18
8.73
12.82
19.43
10-Year
Term
4.57
4.64
4.70
4.79
4.85
Male Female
$4.33
$4.01
4.42
4.12
4.49
4.20
4.92
5.11
5.18
5.23
5.30
Type of Policy
6.42
7.14
8.81
14.19
22.03
37.70
20-payment life
4.29
4.36
4.42
4.47
4.51
4.60
4.69
4.77
4.84
4.93
5.35
6.24
7.40
9.11
13.17
24.82
Whole
Life
Male Female
$11.17
$13.22
13.60
11.68
14.12
12.09
14.53
14.97
15.39
15.90
16.38
16.91
17.27
17.76
18.12
18.54
24.19
27.21
33.02
37.94
45.83
53.98
12.53
12.96
13.41
13.92
14.38
14.77
15.23
15.66
16.18
16.71
22.52
25.40
29.16
33.57
37.02
42.24
$
Annual
Premium
Male
$23.14
24.42
25.10
Permanent Insurance
20-Payment
Life
25.83
26.42
27.01
27.74
28.40
29.11
29.97
30.68
31.52
32.15
37.10
42.27
48.73
56.31
61.09
70.43
Female
$19.21
20.92
21.50
22.11
MO
22.89
23.47
24.26
25.04
25.96
26.83
27.54
28.09
28.73
Semiannual
Premium
33.12
36.29
39.08
44.16
49.40
52.55
$
20-Year
Endowment
Male Female
$33.22
$29.12
33.68
30.04
34.42
31.28
34.90
35.27
35.70
36.49
37.02
37.67
38.23
38.96
39.42
40.19
43.67
48.20
51.11
58.49
71.28
79.15
31.79
32.40
32.93
33.61
34.87
35.30
35.96
36.44
37.21
37.80
39.19
42.25
46.04
49.20
53.16
58.08
PRENS
LA
Quarterly
Premium
$
Monthly
Premium
Premium
Paid
na pana
Life Insurance-Premium
Factors
Semiannually
Quarterly
Monthly
PLAZA
Percent of
Annual
Premium
52%
26%
9%
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