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Use the chart above to determine the premium for 10-year term insurance. $10,000 policy for a 35-year-old male. Premium = _____?

6.11

61.10

611.00

6,110.00

Use the chart above to determine the premium for 10-year term insurance. $10,000 policy-example-1

1 Answer

2 votes

Answer:

Option B 61.10

Explanation:

Given is a chart giving the premium to be paid for 10 year term insurance for different age groups for an amount of 1000 policy.

We have to calculate the premium for a 35 year old man for 10 year term insurance for 10000 policy.

From the chart we find that for a 35 year old man premium = 6.11

This premium is for 1000 dollars.

Since here sum assured is 10000 dollars, we get the premium

=6.11(10) = 61.10 dollars

Option B is correct

Premium = 61.10 dollars

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