Math 472 HW 6 Solutions - MATH 472/567: Actuarial Theory...

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MATH 472/567: Actuarial Theory II/Topics in Actuarial Theory I Homework #6: Spring 2011 Assigned March 2, due March 9 1. For a special whole life insurance of 100,000 on (x): (i) δ = 0.05 (ii) Benefits are payable at the moment of death. (iii) There are two decrements: (1) = accidental death and (2) = non-accidental death. (iv) μ ( τ ) x ( t ) = 0.008 for t > 0 (v) μ (1) x ( t ) = 0.001 for t > 0 (a) Calculate the actuarial present value of this insurance, where the death benefit is doubled if death occurs by accident. (15,517.24) (b) Calculate the actuarial present value of this insurance, where the death benefit is doubled if death occurs by accident during the first 30 years. (15,214.62) 2. For a special 3-year term insurance on (x): (i) The benefit for accidental death is 50,000. (ii) The benefit for non-accidental death is a return of the net single premium without interest. (iii) Benefits are payable at the moment of death. (iv) For accidental death:
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Math 472 HW 6 Solutions - MATH 472/567: Actuarial Theory...

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