Question

Howard Slater age 44 an actor expected his income to the coin future years he decides to take out a 20-year payment life policy with $90,000 coverage what will be Howard's annual premium if he stops paying premium after 15 years what will be his cash value

Answer 1

The question relates to calculating insurance premiums and cash value, which falls under business studies, specifically insurance. Exact calculations cannot be made without specific information about the policy. Insurance calculations involve actuarial science and risk assessment.

Step-by-step explanation:

The student's question seems to involve calculation of insurance premiums and cash value, which is primarily related to the field of insurance in business studies. Unfortunately, without more specific information regarding Howard Slater's life insurance policy, such as the premium rate, interest rate and how the cash value is accumulated or paid out, it is not possible to provide a precise answer.

To estimate annual premiums and cash value, one would need to know how the insurer calculates these values based on the coverage amount, the length of the policy, the age of the insured, and any other factors deemed relevant by the insurance company. Generally, life insurance policies might generate cash value if they are of a 'whole' or 'universal' type rather than 'term'.

Moreover, life insurance calculations involve understanding actuarial science. For example, in a hypothetical scenario where insurance companies calculate premiums based on risk, such as the likelihood of 50-year-old men with or without a family history of cancer dying within a year, it involves complex risk assessment and actuarial tables. This process would determine an actuarially fair premium for Howard based on his personal risk factors.

Answer 2

Individuals end to continue paying the premiums of the automobile insurance as a habit. However, serious thoughts and putting in element of strategizing helps to reduce the premium in most cases. At times, there is a sudden like on the part of the insurer even for a flawless driver.

A good look up and research of the insurance websites can be of real help in comparing whether a better deal is offered by the other insurance companies, or whether a certain change in the policy or small adjustments of the term would give benefit to the customer.

In case a speeding ticket is received, or an accident is mentioned in the driving history, it is maintained there in for a period of three to five years. Thus, the premium increases substantially. A change of insurer is advised in such situations, where a major search for an insurer, who does not pay that much importance to these details, is to be carried on.

Again, having a teenager driver in the family calls for a caution as the insurance premium increases drastically in such occasion. Having clean driving record of the parents, or kids commuting to far away schools without cars help in such situation.