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| rev | Admin | (Created page with "For a fully discrete whole life insurance policy of 2000 on (45), you are given: (i) The gross premium is calculated using the equivalence principle (ii) Expenses, payable at the beginning of the year, are: {| class="table table-bordered" ! !! % of Premium !! Per 1000 !! Per Policy |- | First year || 25% || 1.5 || 30 |- | Renewal years || 5% || 0.5 || 10 |} (iii) Mortality follows the Standard Ultimate Life Table (iv) <math>i=0.05</math> Calculate the expense poli...") | Jan 20'24 at 1:12 | +633 |