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Assignment premium depending on her or his age This table shows the premiums for people...

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Assignment premium depending on her or his age This table shows the premiums for people between the ages of 20 The Universal Insurance Company sells life insurance For 1 000 000 of insurance a person pays a and 60 For example a person age 30 pays 43 94 per month for their plan which is valid for a 20 year term 1400 1300 35 50 167 06 30 43 94 47 37 Source https www policygenius com life insurance life insurance cost a Use the whole grid below Plot Age horizontally from 0 to 70 years use equal increments Plan your vertical axis such that you have room to extend your curve from 0 to 70 years as well Use your points to draw a smooth curve of best fit Describe the shape of the curve in the space below 1500 12PC 1106 1000 900 800 700 Age Premium LOG Soo 400 300 200 100 20 42 23 25 42 23 S 10 15 25 36 40 Name 40 65 32 90 45 70 75 Age b From the graph not the data table interpolate to estimate the monthly premium for the following ages iii 43 120753 ii 33 i 27 50 iv 52 22000 v 57 280 45 108 15 5 60 65 60 456 42 55 257 14 d What assumption did you make in order to extend your curve in part c c Extend your curve from age 0 to age 70 Extrapolate to estimate the cost of insurance for each age i 61 ii 65 iii 70 iv 10 v 0 newborn 1 1

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