Question

Because Bernard has some health issues, he must pay 15% more for life insurance. About how much more annually will a $115,000 10-year term insurance at age 35 cost Bernard than someone of the same age without health issues? A 3-column table with 3 rows. Column 1 is labeled age with entries 35, 40, 45. Column 2 is labeled 10-year term, male, with entries 1. 40, 1. 64, 2. 7. Column 3 is labeled 10-year term, female, with entries 1. 36, 1. 59, 2. 1. A. $161 b. $185 c. $1,073 d. $24 Please select the best answer from the choices provided A B C D.

Answer 1

From the given table, the annual premium rate as a percentage of value insured a person at age 35 has to pay is 0.14%.

• The amount more annually a $115,000 10-year term insurance at age 35 cost Bernard than someone of the same age without health issues is option d. $24

Reasons:

The data in the table are presented as follows;

$\begin{tabular}{|c|c|c|}Age&Annual Insurance Premiums (per \ 1,000 of face value)&\\&10-Year Term &\\&Male&Female\\35&1.40&1.36\\40&1.64&1.59\\45&2.07&2.01\end{array}\right]$

From the above table, we have that the amount a 35 year old without health issues will pay per $1,000 is $1.40

Therefore, the amount to be paid for $115,000 is 115 × $1.4 = $161

The amount Bernard pays = 15% more = 1.15 × $161 = $185.15

Therefore;

The amount more Bernard has to pay = $185.15 - $161 = $24.15 ≈ $24

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Answer 2

Answer:

$24 or D, Hope this helps :D

Step-by-step explanation: