Lab6 Memo

Lab6 Memo - As you know, our current premium rate is $3.00...

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To: Les N. DeRisk Chief Actuary From: Mickey Mouse Chief Marketing Officer Re: Development of 20 Year Term Product Les, Purdue Life Insurance Company (PLIC) needs to develop a new 20 Year Term policy. IU Life, our main competitor in the marketplace, has recently introduced a new 20 Year Term with a premium rate of $2.25 per $1000.
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Unformatted text preview: As you know, our current premium rate is $3.00 per $1000. As a result, we are losing market share to IU Life. Please develop a new product the will beat IU Lifes premium so that PLIC can reclaim its rightful place atop the term marketplace....
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