Find the Indicated Premium

question 39

Multiple Choice

Find the indicated premium. Round to the nearest cent.
-Find the total premium paid over 30 years for a universal life policy with a face value of $35,000. Assume the policy is taken out by a 25-year-old man.

• A)$2,709.00
• B)$5,313.00
• C)$5,365.50
• D)$5,040.00

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Definitions:

United States

refers to a country composed of 50 states, a federal district, five major self-governing territories, and various possessions, known for its large size and diverse culture and geography.

Benjamin Rush

Known as a founding father of American psychiatry, he was an 18th-century physician who made significant contributions to the development and understanding of mental illness.

Asylums

Institutions meant for the care of mental illness patients, historically known for their varying standards of treatment.

Mental Illness

A condition that affects a person's thinking, feeling, behavior, or mood, significantly interfering with daily life and functioning.