21
QuizMultiple Choice

Life Insurance

Question 21 • LVA - Mathematical Modeling - Spring

Determine the term life insurance amount per thousand on a 25-year-old female for a 10-year policy given that the face value of the policy is $75,000 and the annual premium is $338.25.

Answer
A
$4.47
B
$0.00447
C
$0.00451
D
$4.51

Explanation

A $75,000 policy covers 75 units of $1,000. Divide the annual premium by 75: $338.25 ÷ 75 = $4.51 per $1,000. The correct choice is $4.51.

AI-written and checked against the verified answer.

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