Calculate the Value of the Nonforfeiture Options for the Following

question 11

Short Answer

Calculate the value of the nonforfeiture options for the following life insurance policy issued to a female at age 20. $\begin{array}{lllllll}\text { Face Value } & \text { Years in } & \text { Type of } & \text { Cash } & \text { Pad-up } & \text { Extended } & \text { Term } \\\text { of Policy } & \text { Force } & \text { Policy } & \text { Value } & \text { Ins. } & \text { Years } & \text { Day } \\\hline \$ 20,000 & 3 & \text { Whole } & & & & \\&&\text { Life } & & & &\end{array}$

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Definitions:

Status

The social or professional position of an individual or entity within a structured system or society.

Sociological Criticisms

Sociological criticisms refer to analyses or critiques grounded in sociological perspective, often focusing on societal structures, inequalities, behaviors, and practices.

Freud's Model

This refers to Sigmund Freud's theoretical framework for understanding the human psyche, consisting of the id, ego, and superego.

Id

In Freudian psychology, the component of personality that is responsible for our basic desires and drives.