Table 2: Comparison of results, high earnings profile ( , ).

Expected lifetime utility for

Initial wealth ($)No insurance over lifetimeIOOF insurance for first year onlyIOOF insurance for first 3 years onlyIOOF insurance for first 5 years onlyIOOF insurance
for first 7 years only
IOOF
insurance
for 40 years
AALL insurance
(4.0% premium)
AALL insurance
(2.6% premium)
AALL insurance
(2.1% premium)

0−∞6.74556.74576.74576.74576.74566.73146.74246.7463
24.62586.74576.74586.74586.74596.74576.73156.74256.7463
46.71006.74586.74596.74596.74606.74586.73156.74266.7464
66.73886.74596.74616.74616.74616.74606.73166.74266.7465
86.74236.74616.74626.74626.74636.74616.73176.74276.7466
106.74356.74626.74636.74636.74646.74626.73186.74286.7466
226.74596.74686.74696.74696.74706.74686.73226.74326.7470
1306.75106.75106.75106.75106.75116.75096.73576.74676.7505
1326.75116.75116.75116.75116.75116.75106.73586.74676.7505
2406.75476.75466.75456.75456.75456.75436.73906.74996.7536

Note: values in boldface show the highest expected lifetime utility for a given value of initial wealth across the given insurance options.