11 ans - MATH 471 Actuarial Theory I Homework#11 Fall 2010...

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Homework #11: Fall 2010 Assigned November 17, due December 1 1. You are given: (i) Mortality follows the Illustrative Life Table. (ii) Deaths are uniformly distributed within each year of age. (iii) i = 0.06 Calculate the level annual benefit premium for a 20-year endowment insur- ance of 50,000 on (40) where the death benefit is payable at the moment of death and premiums are payable at the beginning of each year. (1428.64) 2. For a special 2-year term insurance on (30) payable at the end of the year of death: (i) Premiums are payable semiannually. (ii) Premiums are payable only in the first year. (iii) b k +1 = 500(2 - k ) for k = 0, 1 (iv) Mortality follows the Illustrative Life Table. (v) Deaths are uniformly distributed within each year of age. (vi) i = 0.06 Calculate the amount of each semiannual benefit premium. (1.09) 3. Re-do problem 1, except assume that premiums are payable at the begin- ning of each month and calculate the true level annual benefit premium. You
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11 ans - MATH 471 Actuarial Theory I Homework#11 Fall 2010...

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