Solve the Problem. -A 28-Year-Old Man Pays $57 for a One-Year Life Insurance

question 97

Multiple Choice

Solve the problem.
-A 28-year-old man pays $57 for a one-year life insurance policy with coverage of $100,000. If the probability that he will live through the year is 0.9992, what is the expected value for the insurance policy?

• A)-$56.95
• B)$99,920.00
• C)$23.00
• D)$80.00

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Definitions:

Marketplace Coverage

Health insurance plans available to individuals, families, and businesses through the Health Insurance Marketplace, established by the Affordable Care Act.

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