1

14. (a) Here, V = 1+ 0.003 = 0.971 ,

d x = number of dying × Policy amount

l x = numbers of living in the beginning = 97380

For 2 years Temporary assurance,

V d x + V 2 d x+1
NSP =
lx

( 0.971∗292∗1000 )+(0.943∗294∗1000)
=
97380

= 5.76
1
(b) Here, V = 1+ 0.003 = 0.971

For 4 years endowment assurance,

V d x + V 2 d x+1 +V 3 d x+2 V 4 l x+ 4
NSP = +
lx lx

( 0.971∗292∗1000 )+ ( 0.943∗294∗1000 )+ ( 0.915∗298∗1000 ) ( 0.89∗96496∗1000 ) ¿ ¿

= + 97380
97380

=8.56 + 881.92

= 890.48

© For pure endowment,

V 4 l x+ 4
NSP =
lx

¿
= ( 0.89∗95887∗600 ) ¿ 96794

= 529
1
10. Here, V = 1+ 0.005 = 0.952

For Double Endowment,

V d x + V 2 d x+1 +V 3 d x+2 2V 4 l x+4

NSP = +
lx lx

( 0 .952∗20∗100 ) + ( 0.906∗22∗100 ) + ( 0.862∗25∗100 ) 2∗( 0.82∗933∗100 ) ¿ ¿

= + 1000
1000
=4.24 + 153.012

=157.25