Answer:
About $437.25
Step-by-step explanation:
Using the table which gives the annual premium per $1000; the premium paid annually by the 40 year old male is $437.23
The total annual premium = $75000
Using the data in the table :
Annual premium per $1000 of coverage for a 40-year old male with a 10 - years life insurance policy = $5.83
The annual premium for $75,000 ;
Premium per $1000 × ($75000/$1000)
Annual premium = $5.83 × ($75,000/1000)
Annual premium = $5.83 × 75 = $437.25
Hence, the annual premium for the lifetime insurance based on the stated conditions is $437.25
