Author Question: An insured 25 year old purchased a 15,00 . straight-life policy and a 5,000 . 20-payment life ... (Read 125 times)

mmm · **on:** Jun 24, 2018

An insured 25 year old purchased a 15,00 . straight-life policy and a 5,000 . 20-payment life policy. Fifteen years later she needed to borrow 2,500 on one of her policies. Determine which policy had a loan value in excess of 2,500 .

Question 2

An insured 25 year old purchased a 75,000 . 20-year endowment policy. Five years later he needed to borrow 30,000 . After borrowing the maximum on his insurance, how much more did the insured need to borrow elsewhere?