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WebStatistics and Probability questions and answers. 3. (2) A person purchased a $60,000 term life insurance policy for an annual payment of $500. Based on a period life table for the U.S. government, the probability that the person will survive the year is 0.995 . Find the expected value of the policy for the insurance company (not the individual). Web03. apr 2024. · The average cost of life insurance is $26 a month. This is based on data provided by Quotacy for a 40-year-old buying a 20-year, $500,000 term life policy, which … cancel message sent in outlook
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