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  • 24-05-2024
  • Mathematics
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For a special 5-year fully-discrete term insurance on (50) you are given: 1. Benefits are 4000k paid at the end of year k, k = 1, 2 or 3, if death occurs in year k. 2. Premiums are level and determined by the equivalence principle. 3. The remaining lifetime of (50) is uniform on [0,60]. 4. i = 7% Compute the premium P.

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