Which of the following most accurately describes the basic function of a life insurance policy's net single premium?
A.The net single premium represents the insurer's mortality and expense factors and is used to help actuaries determine the proper mortality charge.
B.The net single premium is the sum of the present values of all the expected benefits payable under the policy.
C.The net single premium is the amount an individual actually pays to provide all the benefits promised in the policy regardless of premium mode.
D.The net single premium is the amount actually charged to the policyowner who wants to purchase the policy with a single premium payment.
