Question

The sample life insurance premium table illustrates the monthly premium for every $25,000 of coverage

Max is 33 and smokes. How much would he save next year on a $75,000 policy if he quit smoking compared to if he continued smoking? Show your work or explain how you got your answer.

Answer 1

The answer to your problem is, 84$

Explanation:

As a male smoker, she will pay annually for a $100,000 policy of:

48 × $5.25 = $252.00

If Max were a non-smoker, she would pay annually:

48 × $3.50 = $168.00

But if her insurance company considers a smoker who quits to be a non-smoker, then by quitting, Max could save. M = Money

$252 -168 = $M ( M=84)

I hope this tells you as well NOT TO SMOKE.

Thus the answer to your problem is, 84$