12
QuizMultiple Choice

Life Insurance

Question 12 • LVA - Mathematical Modeling - Spring

Determine the permanent life insurance amount per thousand given that the policy belongs to a healthy 28-year-old male with an annual premium of $1,332 and a face value of $75,000 on a Whole Life insurance policy.

Answer
A
$17.76
B
$17.72
C
$16.91
D
$16.38

Explanation

A $75,000 face value represents 75 units of $1,000. Divide the annual premium by 75: $1,332 ÷ 75 = $17.76 per thousand. Therefore, the correct choice is $17.76.

AI-written and checked against the verified answer.

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