A company has a one-year group life policy that divides its employees into two classes
Chapter 5, Problem 5.6-11(choose chapter or problem)
A company has a one-year group life policy that divides its employees into two classes as follows: Class Probability of Death Benefit Number in Class A 0.01 $20,000 1000 B 0.03 $10,000 500 The insurance company wants to collect a premium that equals the 90th percentile of the distribution of the total claims. What should that premium be?
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