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21 March, 01:18

Jeremy is 29 years old and in good health. what is the annual premium for the cheapest policy having a $90,000 face value that jeremy can buy?

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Answers (2)
  1. 21 March, 01:34
    0
    There are several information's already given in the question. Based on those information's, the answer to the question can be easily deduced.

    Age of Jeremy = 29 years

    Face value of policy = $90000

    Annual premium payable = $16.91 per $1000 of the face value.

    Then

    90000/1000 = 90

    Then

    Annual premium payable = 16.91 * 90

    = 1521.90 dollars

    I hope the procedure is clear enough for you to understand.
  2. 21 March, 01:43
    0
    Jeremy wants a whole life insurance policy with a face value of $90,000/

    We have to find the annual premium, to the nearest dollar, he will pay for a policy with an annual premium of $16.91 per $1000 of face value.

    90000/1000=90

    (16.91) (90) = $1521.90/year
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