1.Carla Sanborn, who was born on July 12, 1989, purchased $30,000 worth of ordinary whole-life insurance on August 25, 2020.
Her age for insurance purposes: ____years
Her annual premium: $____
2.Bruce Lovegren was born on September 27, 1950. On April 27, 1977, he purchased a $15,000 ten-year term life insurance policy.
His age for insurance purposes: ____ years
Annual premium he paid: $____
3. Edward Anderson has $30,000 of twenty-payment life. If he is twenty-six years old, what premiums will he pay?
semiannually: $___
quarterly: $___
monthly: $___
4. Tom Harris is twenty-four. He purchases $15,000 of ten-year term insurance. Calculate the following.
semiannually: $___
quarterly: $___
monthly: $___
5. Emily Webster purchased a twenty-year endowment policy at age 27 with a face value of $25,000. Calculate the following. (Use a thousands comma where applicable.)
Her annual premium is $___
Her semi-annual premium is $___
The difference between these payment options is $___
6. Tom Hornet purchases $7,000 of ten year term life. He is 31 years old.
His annual premium is $___
His quarterly premium is $___
The difference between the two options is $___