Policy: 5-year deferred whole life insurance of 1 payable at the moment of death of (x) Mortality and interest: Constant force of mortality, with...

Policy: 5-year deferred whole life insurance of 1 payable at the moment of death of (x)

Mortality and interest: Constant force of mortality, with u=0.08, and a constant force of interested, delta=0.05

For the distribution of the present value of the benefit payment, calculate:

a: the variance

b: the median (Hint: you will need to consider the case when Z = 0, as well as when Z is not equal to 0 here)