Question

A 28-year-old man pays $192 for a one-year life insurance policy with coverage of $150,000. If the probability that he will live through the year is 0.9989, what is the expected value for the insurance policy?

Answer 1

I have not done actuarial science, but I would be tempted to calculate it as
192/(1-0.9989)=$174,545.
I wonder how the number 0.9989 was calculated.