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For a block of fully discrete whole life insurances of 1 on independent lives age x, you are given: (i) i = 0.06 (ii) Ax = 0.24905 (iii) 2AX = 0.09476 (iv) The single premium charged at issue date is n = 0.25. Using the normal approximation, calculate the minimum number of policies the insurer must issue so that the probability of the total premiums collected insufficient to pay the benefits on the policies issued is less than or equal to 0.05.

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For a block of fully discrete whole life insurances of 1 on independent lives age x, you are given:...

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