Question

Larry rauzer purchased $60,000 of whole life. What will the cash value of his policy be at the following anniversary dates? anniversary date cash value 10 year 15 year 25 year.

Answer 1

1. Work: First identify the cash value per unit. 10 years= 89 dollars per unit.

Cash value of his policy is $5,340.

2. Work: First identify the cash value per unit. 15 years= 160 dollars per unit.

Cash value of his policy is $9,600.

3. Work: First identify the cash value per unit. 25 years= 340 dollars per unit. Cash value of his policy is $20,400.

What is the life policy?

Life insurance is a contract between a policy holder and an insurer wherein the insurer agrees to pay a sum of money in exchange for a premium at the demise of an insured person or after a specific period of time.

Is life insurance something I need?

When you're not around to support them financially, life insurance might step in. Take into account your mortgage and other bills, the amount of lost income, funeral costs, and the cost of the kids' tuition. You can estimate the amount of insurance you'll need by adding these up.

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