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Calculate the single gross premium

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Reference no: EM132761260

Suppose that (55) purchases a whole life annuity-due paying $5,000 per month with a single gross premium (G) paid at issue.

Expenses:
Maintenance costs (paid at the beginning of the policy year):

  • $500 in the first year
  • $50 in the second and later years

Termination cost: $100 (paid at the moment of death)

Problem 1: Write down an expression for ??0g

Problem 2: Using the equivalence principle and UDD, calculate the single gross premium, G.

Reference no: EM132761260

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