An insured 25 year old purchased a $50,000, 20-year endowment policy with quarterly premiums. Ten 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? Refer to Tables 12-1 and 12-2. (1 year = 12 months.)

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Marie Nguyen · Accepted Answer

Final Answer : $8,050(14.30 × 50 × 4 × 10) - (411 × 50)

An insured 25 year old purchased a $50,000, 20-year endowment policy with quarterly premiums. Ten 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? Refer to Tables 12-1 and 12-2. (1 year = 12 months.)

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