Nikos, a 39-year old male, bought a 300,000, 20-year life insurance policy.
1 answer:
The total amount he will pay for 20 years of coverage is $61,980. Option D
<h3>How to determine the total amount</h3>
To find the total amount, we use the expression
First, we multiply the value per $1,000.00 by the number of thousands of face value coverage. This gives an estimate of the annual premium for life insurance policy.
Nikos's premium per year =
Niko's premium per year =
Niko's premium per year = $3, 099
To find the total amount, we need to multiply by the number of years
= $3,099 x 20
= $61,980
Thus, the total amount he will pay for 20 years of coverage is $61,980. Option D
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