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An insured 25 year old purchased a 60,000 . 20-payment life policy with semiannual premiums. Five years later he needed the maximum loan available on the policy. How much more had the insured paid in premiums than he could borrow on the policy?

Q. 2

An insured 25 year old purchased a 30,00 . straight-life policy with annual premiums. Four years later she needed the maximum loan available on the policy. How much more had the insured paid in premiums than she could borrow on the policy?

Q. 3

An insured 25 year old purchased a 15,00 . straight-life policy and a 5,000 . 20-payment life policy. Fifteen years later she needed to borrow 2,500 on one of her policies. Determine which policy had a loan value in excess of 2,500 .

Q. 4

An insured 25 year old purchased a 75,000 . 20-year endowment policy. Five years later he needed to borrow 30,000 . After borrowing the maximum on his insurance, how much more did the insured need to borrow elsewhere?

Q. 5

An insured 25 year old purchased a 50,000 . 20-payment life policy. Four years later he needed the maximum loan available on the policy. Compute the amount the insured could borrow.

Q. 6

An insured 25 year old purchased a 35,000 . 20-payment life policy. Five years later he needed the maximum loan available on the policy. Compute the amount the insured could borrow.

Ans. #1

4,176
(16.26  60  2  5) - (93  60)

Ans. #2

1,404
(17.20  30  4  1) - (22  30)

Ans. #3

Straight life

Ans. #4

17,025

Ans. #5

3,400

Ans. #6

3,255

I can see it now, thanks for clarifying with correct answers

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