A Client, Age 25, Is Considering Purchasing a 20-Payment Life

question 16

Short Answer

A client, age 25, is considering purchasing a 20-payment life policy with annual payments. He wants to know how much more he will have paid the insurance company in premiums per $1,000 coverage during the 20-year period than he can borrow on the policy at the end of the 20 years. Compute how much more the client will have to pay per thousand. Refer to Tables 12-1 and 12-2. (1 year = 12 months.)​

---

Definitions:

Diagnosed Ages

The specific ages or time periods in an individual's life when they are officially identified with a particular condition or illness by a healthcare professional.

Insomnia Disorder

Insomnia Disorder is a clinical condition characterized by difficulty falling asleep, staying asleep, or obtaining restorative sleep, leading to significant distress or impairment.

Trouble Falling Asleep

Difficulties in initiating sleep, which can lead to reduced sleep quality and duration, affecting overall health.

Perform Well

To execute or accomplish a task or activity with a high degree of competence, effectiveness, or skill.