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25 September, 18:48

Determine the term life insurance amount per thousand on a 20-year-old male for a 10-year policy given that the face value of the policy is $65,000 and the annual premium is $291.85.

a.

$0.00449

c.

$0.2227

b.

$4.49

d.

$222.72

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Answers (1)
  1. 25 September, 20:23
    0
    Hi there

    First find how many thousands on the amount of the face value

    You do that by dividing the amount of the face value by 1000

    65,000:1,000=65

    So the term life insurance amount per thousand is

    291.85:65=4.49 ... answer

    Good luck!
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