These are questions for Business Math the insurance chapter. The data that could

Question

These are questions for Business Math the insurance chapter. The data that could help solve the questions is also up (tables).

Thanks.

with a face value of $200,000 for a 30-year-old male who gets a non-tobacco rate. 24. Using Tables 19-1 and 19-2, estimate the semiannual premium for a $150,000 whole-life policy on a 30-year old female who gets a preferred rate. 25. What is the annual renters insurance annual premium for a person that has a good credit rating, chooses a S40,000 policy limit and a G500 deductible with S300,000 in liability? Applications 26. Using Tables 19-5 and 19-6, find the annual premium for an automobile insurance policy for Sandra White who has a good credit rating. She lives in Territory 1 and buys 50/100/50 coverage for her liability protection. Sandra's vehicle is Model Class 2 and is five years old. In addition to the liability coverage, she purchased comprehensive and collision insurance with a $250 deductible on comprehensive and a $500 deductible on collision.

Explanation / Answer

23) Estimated annaul premium = (face value/1,000) * Rate

Here, Rate for 20 level term for a 30 yr old maile is = 1.61

So, premium = (200000/1000) * 1.61 = $322

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