1. ## combining 2 insurance schemes for lowest premium

I have 2 insurers with following premiums:
company A:

1. life benefit --> premium is 1% of benefit
2. disability benefit --> premium is 0.2% of benefit. disability benefit is capped at twice life benefit

company B:

1. life benefit --> premium is 0.8% of benefit
2. disability benefit --> premium is 0.358% of benefit. disability benefit is capped at 3 times life benefit

what I want is combined life benefit of 3 million and combined disability benefit of also 3 million. how should I organize the allocation of each benefit in both insurance so I can pay the least premium? can anybody enlighten me on the method I can use to get the solution?
thanks

3. as of now, I only tried manually by random allocation. I dont know where to start.
my extend of math is at linear and quadratic equation, so, not sure what to use here

4. test

5. not sure what effort expected from me since I'm no math scholar or some student waiting to get their homework done...
this is a real life application since I'm trying to know which insurance to buy from which company...

6. Originally Posted by capricorn
not sure what effort expected from me since I'm no math scholar or some student waiting to get their homework done...
this is a real life application since I'm trying to know which insurance to buy from which company...
That's kind of a problem. This is why we have ChFCs in our midsts. It is possible we could slog through the arithmetic with you, but would that constitute "financial advice"? In addition, part of the determination of a correct solution is how you feel about the stability of each company. That's not entirely a problem of mathematics.

7. Originally Posted by capricorn
not sure what effort expected from me since I'm no math scholar or some student waiting to get their homework done...
this is a real life application since I'm trying to know which insurance to buy from which company...
We can only assist (that is, provide hints and helps) for the mathematics. For the rest (contractual constraints, economic predictions, financial stability, etc), you'll need to provide every mathematical implication, or else hire a qualified professional who can provide the licensed advice you are seeking. Thank you!

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