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A 28 year old man pays $165 for a one year life insurance policy with coverage of $140,000. If the probability that he will live through the year is 0.994, what is the expected …

A 28 year old man pays $165 for a one year life insurance policy with coverage of $140,000. If the probability that he will live through the year is 0.994, what is the expected …
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A 28 year old man pays $165 for a one year life insurance policy with coverage of $140,000. If the probability that he will live through the year is 0.994, what is the expected value for the insurance policy?

User TondaCZE
by
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1 Answer

5 votes
Coverage X Probability of the Coverage

$140000 * (1 - 0.994) = $840
User Konstantine Kalbazov
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