Tommy Cook is 19 years old and is interested in purchasing a whole life insurance policy with a face value of $80,000. a
Posted: Mon May 30, 2022 8:23 am
- Tommy Cook Is 19 Years Old And Is Interested In Purchasing A Whole Life Insurance Policy With A Face Value Of 80 000 A 1 (72.73 KiB) Viewed 17 times
Tommy Cook is 19 years old and is interested in purchasing a whole life insurance policy with a face value of $80,000. a. Calculate the annual insurance premium for this policy. Note: Refer to the tables in the text for input data. Face value= Number of $1,000 = Rate per $1,000 = (whole life insurance, male -19) Annual premium = b. Calculate the monthly insurance premiums. Monthly percent Monthly premium = c. How much more will Tommy pay per year if he chooses monthly payments? Total of monthly payments = If paid monthly = More will be paid