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Old 08-15-2019, 05:46 AM
actuarialkid97 actuarialkid97 is offline
Join Date: Aug 2019
Posts: 3
Default Reserve (Equivalence Principle)

For a fully discrete 5 years term endowment on (40)
-Death benefit is 1000
-Endowment benefit is 1500
-Mortality followings the standard ultimate life table @ i=5%
-First year expenses are 100+10% of premiums
-Renewal year expenses are 10+1% of premiums
-Settlement expenses are 5% of benefit
-Precontract expenses are 50% of premium
-cash value is 95% of gross premium reserve

Find the gross annual premium

My attempt:

Is my equation correct?

Last edited by actuarialkid97; 08-15-2019 at 05:57 AM..
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