Actuaries at Term Life Insurance Company calculated the net single premium per thousand for a five-year term policy for a man age 32 to be 5.04. To calculate the net level premium for this policy, the net single premium should be
A) divided by 5.
B) divided by the future value life annuity due factor for 1 for five years.
C) divided by the present value life annuity due factor for 1 for five years.
D) divided by the present value ordinary life annuity factor for 1 for five years.
Question 2
Which statement is true regarding using interest-adjusted cost data and purchasing life insurance?
A) Cost indices can help to determine whether a policy should be replaced.
B) The type of policy you purchase should he based solely on a cost index.
C) Small variations in cost indices should be ignored.
D) Cost indices should be used to select an insurer, not an individual policy.
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