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Richard Henry takes out $25,000 of ordinary whole life when he is forty-three years old. A. Annual premium b. Semiannual premium

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If Richard Henry takes out $25,000 of ordinary whole life when he is forty-three years old is: A. Annual premium.

What is annual premium?

Annual premium can be defined as the premium amount a person pay per year, yearly or annually.

Based on the scenario the whole life is an example of long term insurance.

Reason been that  annual  premium are often used  for long term insurance in which the policy holder is expected to stop paying the premium when he/she reach a certain age that is stated on the policy terms and condition.

Therefore If Richard Henry takes out $25,000 of ordinary whole life when he is forty-three years old is: A. Annual premium.

Learn more about annual premium here: https://brainly.com/question/25280754

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Answer:

618.25-annual     309.13-semiannual

Step-by-step explanation:

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