| Policies Up To And Including | Basic Premium | Policies Up To And Including | Basic Premium | Policies Up To And Including | Basic Premium | Policies Up To And Including | Basic Premium |
|---|---|---|---|---|---|---|---|
| $10,000 | $238 | $32,500 | $398 | $55,000 | $556 | $77,500 | $716 |
| 10,500 | $242 | 33,000 | $401 | 55,500 | $559 | 78,000 | $720 |
| 11,000 | $244 | 33,500 | $405 | 56,000 | $565 | 78,500 | $725 |
| 11,500 | $248 | 34,000 | $408 | 56,500 | $568 | 79,000 | $729 |
| 12,000 | $252 | 34,500 | $412 | 57,000 | $571 | 79,500 | $730 |
| 12,500 | $255 | 35,000 | $415 | 57,500 | $575 | 80,000 | $734 |
| 13,000 | $260 | 35,500 | $419 | 58,000 | $579 | 80,500 | $738 |
| 13,500 | $264 | 36,000 | $422 | 58,500 | $581 | 81,000 | $742 |
| 14,000 | $267 | 36,500 | $426 | 59,000 | $585 | 81,500 | $744 |
| 14,500 | $270 | 37,000 | $429 | 59,500 | $589 | 82,000 | $748 |
| 15,000 | $272 | 37,500 | $433 | 60,000 | $593 | 82,500 | $753 |
| 15,500 | $276 | 38,000 | $437 | 60,500 | $597 | 83,000 | $757 |
| 16,000 | $280 | 38,500 | $441 | 61,000 | $600 | 83,500 | $759 |
| 16,500 | $284 | 39,000 | $443 | 61,500 | $603 | 84,000 | $762 |
| 17,000 | $288 | 39,500 | $447 | 62,000 | $607 | 84,500 | $767 |
| 17,500 | $292 | 40,000 | $450 | 62,500 | $611 | 85,000 | $770 |
| 18,000 | $296 | 40,500 | $455 | 63,000 | $613 | 85,500 | $773 |
| 18,500 | $298 | 41,000 | $457 | 63,500 | $617 | 86,000 | $776 |
| 19,000 | $301 | 41,500 | $462 | 64,000 | $621 | 86,500 | $781 |
| 19,500 | $304 | 42,000 | $465 | 64,500 | $625 | 87,000 | $785 |
| 20,000 | $309 | 42,500 | $469 | 65,000 | $628 | 87,500 | $788 |
| 20,500 | $312 | 43,000 | $471 | 65,500 | $631 | 88,000 | $791 |
| 21,000 | $317 | 43,500 | $475 | 66,000 | $635 | 88,500 | $795 |
| 21,500 | $320 | 44,000 | $479 | 66,500 | $640 | 89,000 | $799 |
| 22,000 | $324 | 44,500 | $483 | 67,000 | $644 | 89,500 | $801 |
| 22,500 | $327 | 45,000 | $487 | 67,500 | $645 | 90,000 | $804 |
| 23,000 | $330 | 45,500 | $490 | 68,000 | $649 | 90,500 | $809 |
| 23,500 | $333 | 46,000 | $493 | 68,500 | $653 | 91,000 | $813 |
| 24,000 | $337 | 46,500 | $497 | 69,000 | $656 | 91,500 | $817 |
| 24,500 | $340 | 47,000 | $499 | 69,500 | $659 | 92,000 | $819 |
| 25,000 | $345 | 47,500 | $503 | 70,000 | $664 | 92,500 | $823 |
| 25,500 | $348 | 48,000 | $508 | 70,500 | $668 | 93,000 | $827 |
| 26,000 | $352 | 48,500 | $512 | 71,000 | $672 | 93,500 | $831 |
| 26,500 | $355 | 49,000 | $515 | 71,500 | $674 | 94,000 | $832 |
| 27,000 | $358 | 49,500 | $518 | 72,000 | $677 | 94,500 | $837 |
| 27,500 | $361 | 50,000 | $522 | 72,500 | $681 | 95,000 | $842 |
| 28,000 | $365 | 50,500 | $525 | 73,000 | $685 | 95,500 | $845 |
| 28,500 | $368 | 51,000 | $527 | 73,500 | $688 | 96,000 | $847 |
| 29,000 | $373 | 51,500 | $531 | 74,000 | $692 | 96,500 | $851 |
| 29,500 | $376 | 52,000 | $536 | 74,500 | $696 | 97,000 | $855 |
| 30,000 | $380 | 52,500 | $540 | 75,000 | $700 | 97,500 | $859 |
| 30,500 | $383 | 53,000 | $543 | 75,500 | $702 | 98,000 | $862 |
| 31,000 | $387 | 53,500 | $547 | 76,000 | $706 | 98,500 | $866 |
| 31,500 | $390 | 54,000 | $550 | 76,500 | $709 | 99,000 | $870 |
| 32,000 | $393 | 54,500 | $553 | 77,000 | $713 | 99,500 | $873 |
| 100,000 | $875 |
Title Basic Premium Calculation for Policies in Excess of $100,000
Using the table below, apply these steps to determine basic premium for policies above $100,000:
- Step 1 In column (1), find the range that includes the policy's face value.
- Step 2 Subtract the value in column (2) from the policy's face value.
- Step 3 Multiply the result in Step 2 by the value in column (3), and round to the nearest dollar.
- Step 4 Add the value in column (4) to the result of the value from Step 3.
(See examples provided following the table.)
| (1) Policy Range |
(2) Subtract |
(3) Multiply by |
(4) Add |
|---|---|---|---|
| [$100,001 - $1,000,000] | 100,000 | 0.00554 | $875 |
| [$1,000,001 - $5,000,000] | 1,000,000 | 0.00456 | $5,861 |
| [$5,000,001 - $15,000,000] | 5,000,000 | 0.00376 | $24,101 |
| [$15,000,001 - $25,000,000] | 15,000,000 | 0.00267 | $61,701 |
| [Greater than $25,000,000] | 25,000,000 | 0.00160 | $88,401 |
Examples for Policies in Excess of $100,000
Example 1:
(1) Policy is $268,500
(2) Subtract $100,000 ==> $268,500 - $100,000 ==> Result = $168,500
(3) Multiply by 0.00554 ==> $168,500 x 0.00554 ==> $933.49 ==> Result = $933
(4) Add $875 ==> $933 + $875 ==> Final Result = $1,808
Example 2:
(1) Policy is $4,826,600
(2) Subtract $1,000,000 ==> $4,826,600 - $1,000,000 ==> Result = $3,826,600
(3) Multiply by 0.00456 ==> $3,826,600 x 0.00456 ==> $17,449.30 ==> Result = $17,449
(4) Add $5,861 ==> $17,449 + $5,861 ==> Final Result = $23,310
Example 3:
(1) Policy is $10,902,800
(2) Subtract $5,000,000 ==> $10,902,800 - $5,000,000 ==> Result = $5,902,800
(3) Multiply by 0.00376 ==> $5,902,800 x 0.00376 ==> $22,194.53 ==> Result = $22,195
(4) Add $24,101 ==> $22,195 + $24,101 ==> Final Result = $46,296
Example 4:
(1) Policy is $17,295,100
(2) Subtract $15,000,000 ==> $17,295,100 - $15,000,000 ==> Result = $2,295,100
(3) Multiply by 0.00267 ==> $2,295,100 x 0.00267 ==> $6,127.92 ==> Result = $6,128
(4) Add $61,701 ==> $6,128 + $61,701 ==> Final Result = $67,829
Example 5:
(1) Policy is $39,351,800
(2) Subtract $25,000,000 ==> $39,351,800 - $25,000,000 ==> Result = $14,351,800
(3) Multiply by 0.00160 ==> $14,351,800 x 0.00160 ==> $22,962.88 ==> Result = $22,963
(4) Add $88,401 ==> $22,963 + $88,401 ==> Final Result = $111,364