Find the amount to be paid by the insurance company. Assume the policy includes an 80% coinsurance clause. Round to the nearest dollar. Replacement Cost of Building: $340,000 Face Value of Policy: $306,000 Amount of Loss: $2,500
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- An insurance policy has a deductible of 10,000, policy limit of 100,000, and a coinsurance factor of 80%. During the year, the insured suffers six losses of sizes: 3000, 8000, 14,000, 80,000, 120,000, and 200,000. (a) How much does the insurer pay in total? (b) What is the amount paid per loss (or the expected payment per loss)?An insurance company has a simplified method for determining the annual premium for a term life insurance policy. A flat annual fee of $150 is charged for all policies plus $2.50 for each thousand dollars of the amount of the policy.For example, a $20,000 policy would cost $150 for the fixed fee plus $50, which corresponds to the face value of the policy. If p equals the annual premium in dollars and x equals the face value of the policy (stated in thousands of dollars), determine the function which can be used to compute annual premiums.A company charges a net single premium of S6,000 for a life insurance policy with face amount $25,000. The force of interest for this policy is 4 Find the probability that the company makes a profit if Benefit paid at the moment of death and the survival function is So(t) = 1- for 0Live Forever Life Insurance Company is selling a perpetuity contract that pays $1,500 monthly. The contract currently sells for $260,000. a. What is the monthly return on this investment vehicle? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the APR? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c. What is the effective annual return? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. Monthly return b. APR c. EARFind the following: (Round your answer to the nearest cent.) Face Value Age and Sex of Insured Type of Insurance Annual Premium $26,000 37F Straight LifeLive Forever Insurance Company is selling a perpetual annuity contract that pays $2,700 monthly. The contract currently sells for $329,000. a. What is the monthly return on this investment vehicle? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. b. What is the APR? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. c. What is the effective annual return? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. a. Monthly return b. Annual percentage rate c. Effective annual return % % %Insurance Premiums, An Insurance company has a simplified method for determining the annual premium for a turn life insurance policy. A flat annual fee of $150 is charged for all policies plus $2.50 for each thousand dollars of the amount of the policy. For example, a $20,000 policy would cost $150 for the fixed fee plus $50, which corresponds to the face value of the policy. If p equals the annual premium in dollars and x equals the face value of the policy (stated in thousands of dollars), determine the function which can be used to compute annual premiums. Please answer very soonCalculate the annual premium for the following policy. (Use Table 20.1.) Amount of coverage (face value of policy) Age and sex of insured Type of insurance policy Annual premium $200,000 42 (M) 20-payment lifeAn insurance contract has a straight deductible worth 100BD, additionally it also has a coinsurance agreement which specifies that a 21% coinsurance clause exists on a car valued at 30,107 BD. Based on this, if a loss worth 14,713 happens, how much will the insurer pay?Tim’s Tailor Shoppe has the following coverages: CGL - $500,000 Excess Policy $2,000,000, ABC insurance company requires $1,000,000 underlying limit If Tim’s has a loss of $750,000 how will the policies respond? a. $750,000 Excess b. $500,000 CGL only c. $250,000 Excess only d. $500,000 CGL and $250,000 Excess AnswerKk105. Find the annual premium. Face Value: $30,000 Age of Insured: 50 Sex of Insured: M Type of Policy: Universal lifePurchasing auto insurance with a $500 deductible is an example of Group of answer choice risk transfer to an insurance company. risk reduction of $500. risk assumption of $500.SEE MORE QUESTIONS