An insured 28 year old purchased a $100,000, 20-payment life policy with premiums payable annually and lived 20 more years. How much more did the insured pay the insurance company in premiums during his lifetime than he would have paid for a $100,000 straight-life policy with premiums payable annually? Refer to Table 12-1. (1 year = 12 months.)

Question

An insured 28 year old purchased a $100,000, 20-payment life policy with premiums payable annually and lived 20 more years. How much more did the insured pay the insurance company in premiums during his lifetime than he would have paid for a $100,000 straight-life policy with premiums payable annually? Refer to Table 12-1. (1 year = 12 months.)​

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The Answer of An insured 28 year old purchased a $100,000, 20-payment life policy with premiums payable annually and lived 20 more years. How much more did the insured pay the insurance company in premiums during his lifetime than he would have paid for a $100,000 straight-life policy with premiums payable annually? Refer to Table 12-1. (1 year = 12 months.)​

An Insured 28 Year Old Purchased a $100,000, 20-Payment Life