Author Question: An insured 27 year old purchased a 60,000 . 20-year endowment policy with premiums payable annually. ... (Read 220 times)

Pea0909berry · **on:** Jun 24, 2018

An insured 27 year old purchased a 60,000 . 20-year endowment policy with premiums payable annually. How much more did the insured pay the insurance company in premiums during his lifetime than he would have paid had he chosen a 20-payment life policy for the same amount and with annual premiums?

Question 2

An insured 27 year old purchased a 120,000 . 20-year endowment policy with premiums payable semiannually. Compute the amount the insured paid the insurance company in premiums during his lifetime.