2. Calculate the following non-forfeiture options for Lee, age 42, who purchased a $200,000 straight-life...
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2. Calculate the following non-forfeiture options for Lee, age 42, who purchased a $200,000 straight-life policy. At the end of year 20, Lee stopped paying premiums. a. Option 1: Cash Surrender Value b. Option 2: Reduced paid-up insurance c. Option 3: Extended term insurance
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