Method for Calculating Joint Last Sample Clauses

Method for Calculating Joint Last. Survivor Premiums --------------------------------------------------- Definition of Terms: (a) Qx,n = single life rate per thousand in duration n for an insured whose policy was issued at issue age x (b) Qx,y,n = joint last survivor rate per thousand in duration n for two insureds whose policies were issued at issue ages x and y Step 1 ------ Calculate qx,n for each insured for durations 1 to n. qx,n = Qx,n divided by 1000. Step 2 ------ Calculate px,n for each insured for durations (n-1) and n. px,n = (1-qx,1) x (1-qx,2) xx (1-qx,n). (019)11220-00-00 00 2/16/2011 Step 3 ------ Calculate px,y,n for durations (n-1) and n. px,y,n = px,n + py,n - ((px,n) x (py,n)) Step 4 ------ Calculate qx,y,n for duration n. Let px,y,0 = 1. qx,y,n = 1 - px,y,n ------ px,y,n-1 Step 5 ------ Qx,y,n = 1000 x qx,y,n. A minimum premium of [*] applies in all years. When one of the lives is uninsurable, the premium for the insurable life will be equal to the single life rates shown in Rate Schedule 1, multiplied by the single life pay percentages in Exhibit D.1.
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