Question

Ivana micheli takes out $12,000 endowment insurance policy when she is thirty-seven years old.

Answer 1

At a rate of $0.37 per $100, Ivan's annual premium is $44.40 and the quarterly premium is $11.10.

What is an insurance premium?

An insurance premium is a charge imposed on the insured by the insurance company for the insurance policy taken.

Periodically, the insured is expected to remit the premium to the insurer a coverage fee.

Data and Calculations:

Insurance coverage = $12,000

Ivana's age = 37 years

Rate of premium = $0.37 per $100

Annual premium = $44.40 ($0.37 x $12,000/$100)

Quarterly premium = $11.10 ($0.37 x $12,000/$100)/4

Thus, at a rate of $0.37 per $100, Ivan's annual premium is $44.40 and the quarterly premium is $11.10.

Learn more about insurance premiums at brainly.com/question/25280754

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