Author Question: Solve the problem using the tables below.Jack started a whole-life insurance policy for $70,000 when ... (Read 71 times)

tiara099 · **on:** Feb 26, 2020

Solve the problem using the tables below.

Jack started a whole-life insurance policy for $70,000 when he was 23 years old. At age 50, the policy has a cash value of $5010 and he converts the policy to extended term insurance for the same face value. Use 20-year level term rates to estimate the number of years of extended term insurance he has using a non-tobacco rate. Round to the nearest hundredth when necessary.
◦ 27.63 years
◦ 20.75 years
◦ 11.95 years
◦ 16.27 years

Gabe · **Reply #1 on:** Feb 26, 2020

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