Question

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

Answer 1

$4.49

Explanation:

Answer 2

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!