I understand the Max AV = Net Single Premium but I thought we do not recognize increasing death benefits under CVAT. Is the model solution incorrect in using the DB at t=3 * NSP factor at t =4?
Also, is the solution correct by dividing the Max AV by 1.035? I used the formula:
Max AV = AV(3) * (1+r) + Premiums*(1 - Load) - COI(4). Then we solve for the premium.
Also, is the solution correct by dividing the Max AV by 1.035? I used the formula:
Max AV = AV(3) * (1+r) + Premiums*(1 - Load) - COI(4). Then we solve for the premium.
2013 Fall #2
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