Based on the information given in the table, we can see that 10-year term insurance for a male of age 35 costs 1.40 times the base rate, and for a female of age 35, it costs 1.36 times the base rate.
If Bernard has health issues, he must pay 15% more, which means his insurance cost would be 1.15 times the base rate.
Therefore, for Bernard, the cost of a $115,000 10-year term insurance at age 35 would be:
1.15 * 1.40 * $115,000 = $176,050
To find out how much more this would cost Bernard compared to someone without health issues, we can subtract the base cost of $115,000 from the cost for Bernard:
$176,050 - $115,000 = $61,050
Therefore, Bernard would pay $61,050 more annually than someone of the same age without health issues.
The closest option to this amount is option c. $1,073. However, this seems to be an outlier since the other options are much smaller, so it is likely incorrect. The correct answer is not listed.
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?
A 3-column table with 3 rows. Column 1 is labeled age with entries 35, 40, 45. Column 2 is labeled 10-year term, male, with entries 1.40, 1.64, 2.07. Column 3 is labeled 10-year term, female, with entries 1.36, 1.59, 2.01.
a.
$161
b.
$185
c.
$1,073
d.
$24
1 answer
0 answers