12 questions insurance
Question Description
1.Find the annual premium for a 20-year level term insurance policy with a face value of$15,000 for a 25-year old male who smokes. Round to the nearest cent.( premium rate is 2.86)
2. Find the annual premium for a universal-life insurance policy with a face value of$20,000 for a 55-year old female using a non-tobacco rate. Round to the nearest cent. (premium rate is 24.57)
3. What are the semi annual payments on a $200,000 whole-life insurance policy for a 30-year-old female with a preferred rate? Use table 1 and table 2. table1 ( 9.82 premium) table2 (51.00 premium rate)
4.Compare the premiums for a 10-year level term policy for$75,000 for a 45-year old male to the same policy for a 45-year old female. Use a non-tobacco rate. Round to the nearest cent. ( premium rate 2.12)
5.Cindy started a whole-life insurance policy for $255,000 when she was 23 years old. At age 50, the policy has a cash value of $12,606 and Cindy converts the policy to extended term insurance for the same face value. Use 20-year level term rates to estimate the number of years of extended term insurance she has. Use a non-tobacco rate.( premium rate 8.12)
Round final answer to two decimals places if needed
6. Parker’s $300,000 whole-life insurance policy has a cash value of $11,278. Parker is 60 years old, female, smokes, and is converting to an extended term policy for the same face value. Use 10-year level term rates to estimate the number of years of extended term insurance she has.( rate 12.57)
Round to two decimal places as needed
7. Cindy needs a $20,000 renters insurance policy and has selected the $1,000,000 liability with $500 deductible. The insurance company has determined her credit is excellent and has given her the “good” credit rate. If she adds an endorsement to insure$4000 worth of jewelry and the options of identity theft/fraud protection and sewer/sump pump backup protection for her basement, find her annual premium.
( premium 169)
8. Tim Navholtz needs a $20,000 renters insurance policy and has selected the$500,000 liability with $1,000 deductible. The insurance company has determined his credit is excellent and has given him the “good” credit rate. If he adds an endorsement of $0.85/$100 to ensure$11,800 of jewelry, $20/year for the options of identity theft/protection and $75/year for sewer/sump pump backup protection for his basement, find his annual premium using the given table.( premium ,134)
9. Jim is a renter and carries $40,000 insurance on his personal belongings. He selects the minimum liability with a deductible of $1000 for each claim, carries identity theft/fraud protection and an endorsement of$4000 for his camera equipment. Jim has a recent bankruptcy on his record, so is credit is rated as “bad”. Find his annual premium.( premium 313)
10. Find the annual homeowners insurance premium on a masonry home located in zone 1 if the home is insured for$300,000. The owner chooses a $1000 deductible and has good credit.
(premium 0.27)
11. A home with a replacement value of$285,000 is insured in a policy that contains an 80% coinsurance clause. The face value of the policy is$200,000. If a fire causes damage valued at
$1,900, find the amount of compensation to the owner by the insurance company.
12.Find the total annual insurance premium.
Territory: 1
Credit rating: OCC
Model class:
1
Vehicle age: New
Liability coverage: 50/100/50
Comprehensive deductible: $250
Collision deductible: $500
Annual auto mobile liability insurance premium 600
Annual auto premium rate comprehensive 628
Collision 855
Have a similar assignment? "Place an order for your assignment and have exceptional work written by our team of experts, guaranteeing you A results."