Question

because bernard has some health issues, he must pay 15% more for life insurance. about how much more annually will a $115,000 10 - year term insurance at age 35 cost bernard than someone of the same age without health issues? age annual insurance premiums(per $1,000 of face value) 10 - year term male female 35 1.40 1.36 40 1.64 1.59 45 2.07 2.01 a. $161 b. $185 c. $1,073 d. $24 please select the best answer from the choices provided

Explanation:

Step1: Calculate base - premium

First, find the base annual premium for a 35 - year - old male for a $115,000 10 - year term insurance. The premium per $1,000 of face value for a 35 - year - old male is $1.40. The number of $1,000 units in $115,000 is $\frac{115000}{1000}=115$. So the base annual premium is $1.40\times115 = 161$.

Step2: Calculate extra amount

Bernard pays 15% more. To find 15% of 161, we use the formula $0.15\times161=24.15\approx24$.

Answer:

D. $24