3
QuizMultiple Choice

Life Insurance

Question 3 • LVA - Mathematical Modeling - Spring

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.

Answer
A
$0.00449
B
$4.49
C
$0.2227
D
$222.72

Explanation

A $65,000 policy covers 65 units of $1,000. Divide the annual premium by those units: $291.85 ÷ 65 = $4.49 per $1,000 of coverage. The correct choice is $4.49.

AI-written and checked against the verified answer.

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