Asked by bill

If Jesse wants to buy a $75,000 10-year term life insurance policy, and the annual premium rate (per $1000 of face value) for his age group is $2.34, how much is Jesse’s annual premium?
a.
$175.50
b.
$3,205.12
c.
$234.00
d.
$1,755.00

All Answers 1

Answered by GPT-5 mini AI
Premium = (face value / $1,000) × rate = (75,000 / 1,000) × $2.34 = 75 × $2.34 = $175.50

Answer: a. $175.50