## Related questions with answers

Determine the annual premium. Use the table.

$\scriptstyle\begin{array}{c}\\ \text{Annual Premiums per \$1,000}\\ \text{of Life Insurance: 5-Year Term}\\\begin{array}{|c|c|c|} \hline \text { Age } & \text { Male } & \text { Female } \\ \hline 18-30 & \$3.21 & 52.77 \\ \hline 35 & \$ 3.51 & \$ 2.98 \\ \hline 40 & \$4.25 & \$ 3.47 \\ \hline 45 & \$ 5.42 & \$ 4.60 \\ \hline 50 & \$ 7.59 & \$ 6.27 \\ \hline 55 & \$ 11.45 & \$ 8.58 \\ \hline 60 & \$ 17.19 & \$ 12.62 \\ \hline \end{array}\\ \scriptstyle\text{Minimum amount is \$50,000}\\ \end{array}$

Joni Hauck wants to purchase a $65,000, 5-year term life insurance policy. She is 25 years old.

Solution

Verifieda) $\$ 65,000 \div \$ 1,000 = 65$ units

The number of units purchased is the coverage divided by $ 1,000.

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