Question

"Use the chart above to determine the premium for 10 year term insurance. $12,000 policy for a 35-year-old female. Premium = _____?

A) 5.29
B) 6.11
C) 63.48
D) 73.32"

Answer 1

Option C) 63.48

The footnotes indicate that for female you have to use the rate for a male three years younger.

Then you have to use the rate for 32-year-old males, which is 5.29.

That rate is for evary $1,000 face value, the you have to calculate the premium in this way:

Premium = [5.29/1000]*$12.000 = 63.48