Consider a whole life insurance policy with a benefit of 1 payable at
the end of the year of death. Let Pi(x) denote the annual benefit
premium for the policy payable at the beginning of the year. Use the
normal approximation to determine the minimum number of policies that
the insurer must issue to people aged x so that the probability of a
positive total loss for the entire group of policies is less than 0.05.
You may assume that the different policies are independent. You are
given the following information:
Ax=.190 2Ax=.064 d=.057 Pi(x)=.019
Anyone that can solve this one with a good explanation is amazing.