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Unformatted text preview: (i) Beneﬁt premiums are such that: π j = π (1 . 025) j for j = 0, 1, . .., 39; π j = 0 for j = 40, 41, . ... (ii) l x = 100 x for 0 ≤ x ≤ 100, and i = 0.07. Calculate: π . (119.34) 3. For a fully discrete 2year term insurance of 10,000 on (63): (i) The beneﬁt premium payable at the beginning of the ﬁrst year is P , and the beneﬁt premium payable at the beginning of the second year is 1.02 P . (ii) Mortality follows the Illustrative Life Table, and i = 0.06. Calculate the beneﬁt reserve at the end of the ﬁrst year. (6.23)...
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 Spring '08
 Zhu
 Math, Actuarial Science, Term life insurance, beneﬁt reserve, Actuarial Theory II/Topics

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