A 50 year old male purchased a 20 Year Endowment insurance

Last updated: 5/27/2023

A 50 year old male purchased a 20 Year Endowment insurance policy at the age of 40 The face value of the policy was 85 000 He asks his insurance agent for a reduced paid up insurance nonforfeiture option Given the table belo and the permanent insurance amount of 48 20 per thousand determine the reduced paid up insurance value and th annual premium End of Year 7 10 15 20 Year Endowment Options Option 2 Option 1 Cash Value Reduced Paid Up Insurance Option 3 Extended Term 421 562 834 1000 Years Days 26 10 31 182 37 50 226 364 687 20 1000 Life a Annual Premium of 4 097 00 Reduced c Annual Premium of 4 625 00 Reduced