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Discrete 20-year term insurance

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Question

For a fully discrete 20-year term insurance on 70 , you are given:

The death benefit is 1000 for the first 10 years and increased to 2000 thereafter.

Annual expenses are 10 plus 5% of the annual premium.

Settlement expenses are 50 plus 10% of the paid benefit.

Mortality follows the Standard Ultimate Life Table at i=5%.

Cash values are equal to 95% of gross premium reserves.

Reference no: EM133220568

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