Respuesta :
We need to determine the term life insurance amount per thousand on a 22-year-old female for a 5-year policy given that the face value of the policy is $600,000 and the annual premium is $1332.
Since we are supposed to find the term life insurance amount per thousand, therefore, we will use the following formula:
[tex]\text{Term life insurance amount}=\frac{\text{Annual premium}}{\text{Face value of insurance}}*1000[/tex]
Upon substituting the values of annual premium and face value of insurance, we get:
[tex]\text{Term life insurance amount}=\frac{\text{1332}}{\text{600000}}*1000\\ \text{Term life insurance amount}=\$2.22[/tex]
Therefore, the required life insurance amount is $2.22.
