Calculate the reduced paid-up insurance for Lee Chin, age 42, who purchased a $1

Question

Calculate the reduced paid-up insurance for Lee Chin, age 42, who purchased a $100,000 straight life policy. At the end of year 20, Lee stopped paying premiums. (Use Table 20.2). (Omit the "$" sign in your response.)

Calculate the reduced paid-up insurance for Lee Chin, age 42, who purchased a $100,000 straight life policy. At the end of year 20, Lee stopped paying premiums. (Use Table 20.2). (Omit the "$" sign in your response.)

Calculate the reduced paid-up insurance for Lee Chin, age 42, who purchased a $100,000 straight life policy. At the end of year 20, Lee stopped

Explanation / Answer

Reduced paid up policy

Reduced Paid up insurance value = (100000/1000)*1000 = $100,000

This is so as Policy is fully paid up at end of 20 Yrs

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