Assuming that the policyholder is healthy and has an average life expectancy, we can estimate the expected value of the policy by multiplying the probability of dying during the policy period by the amount that will be paid out in the event of death.
The probability of dying during the policy period can be estimated using actuarial tables, which provide information on life expectancies based on age, gender, and other factors. For a healthy 28-year-old female, the probability of dying during a one-year policy period is very low, likely less than 0.1%.
If we assume a probability of dying of 0.1%, the expected value of the policy would be:
Expected value = 0.001 x $200,000 = $200
This means that, on average, the policyholder can expect to receive $200 in benefits from the policy. However, it's important to note that this is just an estimate and actual benefits may be higher or lower depending on the policyholder's individual circumstances.