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Figure 35.2Life Expectancy Table, All Races, 1996Age Both Sexes Male Female Age Both Sexes Male Female0 76.9 74.1 79.51 76.4 73.7 79.05 72.5 68.8 75.110 67.6 64.9 70.115 62.6 59.9 65.220 57.8 55.2 60.325 53.1 50.6 55.430 48.3 45.9 50.635 43.6 41.3 45.840 38.9 36.7 41.045 34.4 32.3 36.350 30.0 27.9 31.855 25.7 23.8 27.460 21.6 19.9 23.165 17.9 16.3 19.270 14.4 13.0 15.575 11.3 10.1 12.180 8.6 7.6 9.185 6.3 5.6 6.790 4.7 4.1 4.895 3.5 3.1 3.5100 2.6 2.4 2.7LIFE EXPECTANCYThis table helps insurance companies determine insurancepremiums. Use the table to find the average number of additionalyears a 15-year-old male and female are expected to live.756 Unit 7: Planning for the Futurereceived the $10,000 proceeds. If Don had lived until the policyhad been in effect for 20 years, the insurance company wouldhave paid the $10,000 to him at that time.AnnuityAn annuity is a guaranteed retirement income that is purchased bypaying either a lump-sum premium or making periodic payments to aninsurer. You may choose to receive an income for a certain fixed numberof years, with a beneficiary receiving what is left of the annuity whenyou die. Alternatively, you may choose to receive payments as long asyou live, losing what is left of the annuity upon death.Accidental Death andDismemberment InsuranceAccidental death and dismemberment insurance provides benefitsonly when the insured is killed in an accident, loses the use of one ormore limbs, or loses sight in one or both eyes. Commonly, if one hand,one foot, or the sight in one eye is lost, the policy pays half the benefitthat would be paid for loss of life. Some policies contain a doubleindemnity clause. If the insured dies accidentally, the beneficiaryreceives double the amount of the face value of the policy. A policy mayalso provide monthly payments to the insured for becoming totally disabled.There is often a waiver of premium provision, which means thatpremiums do not have to be paid as long as the insured is disabled.