4. You are the actuary for a company that sells a fully discrete 100,000 2-year term life insurance to 60-year-olds. The policy has no cash surrender value. a) Calculate the level premium for this insurance (3 marks) b) Your company now offers a policy with the same benefit, but with a single premium. You assume that this new policy will have no lapses. All other assumptions and features remain unchanged. Justify the assumption of no lapses for this new policy. (3 marks)