For a special fully discrete 35-payment whole life insurance on (30): (i) The death benefit is 1 for the first 20 years and is 5 thereafter. (ii) The initial benefit premium paid during each of the first 20 years is one fifth of the benefit premium paid during each of the 15 subsequent years. (iii)Mortality follows the Illustrative Life Table. (iv)i = = 0.06 (v) A30:351 = 14.835 14.835 Calculated the initial annual benefit premium. (a) 0.010 (b) 0.015 (c) 0.020 (d) 0.025 (e) 0.030 = (vi)Ã¤30:35

To calculate this, we need to first calculate the net single premium (NSP) which is the sum of the expected death benefits less the expected surrender benefits. This can be calculated using the Illustrative Life Table, the mortality rate (i), and the benefit premiums for each of the 35 years. Then the initial annual benefit premium can be calculated by dividing the NSP by the number of payments (35) and then multiplying it by the ä30:35 coefficient (0.248). This gives us the initial annual benefit premium of (d) 0.025.

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For a special fully discrete 35-payment whole life insurance on (30): (i) The death benefit is 1 for the first 20 years and is 5 thereafter. (ii) The initial benefit premium paid during each of the first 20 years is one-fifth of the benefit premium paid during each of the 15 subsequent years. (iii)Mortality follows the Illustrative Life Table. (iv)i = = 0.06 (v) A30:351 = 14.835 14.835 Calculated the initial annual benefit premium. (a) 0.010 (b) 0.015 (c) 0.020 (d) 0.025 (e) 0.030 = (vi)Ã¤30:35 = 0.248 0.248