According to the centers for disease control and prevention

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According to the Centers for Disease Control and Prevention, a 40 year old woman has a 15 in 10,000 chance of dying in the next year.

If a group of 670 women who are 40 years old wish to purchase a life insurance policy that will pay $1,000,000 if they die in the next year, how much will an insurance company charge each of these women this year for an actuarially fair policy?

Assume that payouts on policies are the insurance company\'s only costs. Round your answer to the nearest whole dollar.

Reference no: EM131108549

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