Standard insurance is developing long-life insurance policy

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Reference no: EM131817223

Standard Insurance is developing a? long-life insurance policy for people who outlive their retirement nest egg. The policy will pay out ?$250,000 on your 82nd birthday. You must buy the policy on your 62th birthday. The insurance company can earn 9?% on the purchase price of your policy. What is the minimum purchase price the insurance company should charge for this? policy?

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Reference no: EM131817223

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