Ask Question
17 September, 18:34

Determine the term life insurance amount per thousand on a 25-year-old female for a 10-year policy given that the face value of the policy is $75,000 and the annual premium is $338.25.

+4
Answers (1)
  1. 17 September, 18:37
    0
    Given:

    25-year old female

    10-year policy

    face value of 75,000

    annual premium $338.25

    annual premium = number of units purchased * premium per 1,000

    number of units purchased = Face value / 1,000 = 75,000 / 1000 = 75

    338.25 = 75 * premium per 1,000

    premium per 1,000 = 338.25 / 75

    premium per 1,000 = 4.51

    The term life insurance amount per thousand on a 25-year-old female for a 10-year policy is $4.51
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Determine the term life insurance amount per thousand on a 25-year-old female for a 10-year policy given that the face value of the policy ...” in 📗 Arts if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers