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#11




It's 6.3 from the LTAM 165:
Stuart, now age 65, purchased a 20year deferred whole life annuitydue of 1 per year at age 45. You are given: (i) Equal annual premiums, determined using the equivalence principle, were paid at the beginning of each year during the deferral period. (ii) Mortality at ages 65 and older follows the Standard Ultimate Life Table. (iii) i = 0.05 (iv) Y is the present value random variable at age 65 for Stuart’s annuity benefits. Calculate the probability that Y is less than the actuarial accumulated value of Stuart’s premiums. 
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