How much are the monthly payments

Reference no: EM132781893

Dr Lin, aged 35, takes out a pure endowment policy, which will pay a survival bene?t of £60,000 if he survives to age 55. Assume an effective interest rate of 4% per annum and mortality given by the AMC00 Select Table.

Question (a) What is the cost of the endowment policy?

Question (b) Dr Lin plans to use the survival bene?t to purchase a whole-life annuity paying a monthly amount in advance. How much are the monthly payments

Reference no: EM132781893

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