Answered

Get comprehensive answers to your questions with the help of IDNLearn.com's community. Receive prompt and accurate responses to your questions from our community of knowledgeable professionals ready to assist you at any time.

Joshua is 25 years old and has a high risk job making $72,000 a year. The insurance company charges him an extra 20% on top of his premium rate because of his job. If Joshua wants a policy that will replace five years of his salary, what is the annual premium for the cheapest policy? For age 25, whole life for male is 15 dollars and 38 cents, 20-payment life is 26 dollars and 40 cents, and 20-year endowment is 34 dollars and 2 cents. A. $1,107 b. $1,328 c. $5,537 d. $6,644.

Sagot :

Francocanacariidn

The correct answer is D. The annual premium for the cheapest policy is $6,644.

A life insurance policy can pay out in the event of the insured's death, whether or not before a specific date, or if the insured is alive on a specific date.

A life insurance policy can also be a mixture of both, in that case it pays out both when you are alive and when you die earlier. Finally, a life insurance policy can provide a periodic payment as long as the insured person is alive or precisely from the moment the insured person dies.

Learn more about insurance in https://brainly.com/question/13293881

Thank you for using this platform to share and learn. Don't hesitate to keep asking and answering. We value every contribution you make. Accurate answers are just a click away at IDNLearn.com. Thanks for stopping by, and come back for more reliable solutions.