Typical Annual Life Insurance Premiums
for Males, per $1,000 Face Value
Age 10-Year
Ordinary
20-Payment
Term
Whole Life
Life
20-Year
Endowment
23
24
26
27
29
31
22222222252
4.06
11.34
19.89
42.15
4.10
11.69
20.32
42.24
4.15
12.05
20.78
42.34
4.20
12.44
21.27
42.45
4.29
12.86
21.79
42.56
4.41
13.30
22.34
42.67
28
4.54
13.77
22.91
42.79
4.69
14.26
23.51
42.92
30
4.87
14.78
24.12
43.05
5.07
15.33
24.75
43.19
32
5.29
15.90
25.40
43.33
Notes: (1) For semiannual premiums, use 51% of the annual rate.
(2) For quarterly premiums, use 26% of the annual rate.
(3) For monthly premiums, use 9% of the annual rate.
(4) For females, use the age of a male three years younger.
Tom Harris is twenty-four. He purchases $15,000 of ten-year term Insurance.
What’s the answer for a b c
a. semi-annually
b. quarterly
c. monthly