179k views
5 votes
Stefan, a 36 year old male, bought a $150,000, 10 year life insurance policy. Stefan is paid weekly. What is Stefan’s annual premium? Show work.

Stefan, a 36 year old male, bought a $150,000, 10 year life insurance policy. Stefan-example-1
User Dominus
by
5.5k points

2 Answers

2 votes

Answer: did u ever find out the answer?

Explanation:

User Marketa
by
5.0k points
5 votes

Answer: $682.50

Explanation:

The cost for Stefan’s insurance is determined by the row of data for a 36 year old male. A 10-year policy has a cost of $4.55 per thousand dollars of coverage. In order to determine the total cost you need to determine the amount of thousands of coverage, which is $150,000/1,000 = 150. The total annual cost is 150 x $4.55 = $682.50.

User Jason Siffring
by
5.0k points