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? Refer to Table 12-1. (1 year = 12 months.)

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The Answer of 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? Refer to Table 12-1. (1 year = 12 months.)

An Insured 27 Year Old Purchased a $60,000, 20-Year Endowment