A life insurer has created a special one-year term insurance policy for a pair of business people who travel to high risk locations. The insurance policy pays nothing if neither die in the year, $\$1,000,000$ if exactly one of the two die, and $K > 0$ if both die. The insurer determines that there is a probability $0.1$ that at least one of the two will die during the year and a probability of $0.08$ that exactly one of the two will die during the year. You are told that the standard deviation of the payout is $\$74,000$. Find the expected payout for the year on this policy.
I found $E[X]$ to be $0.02K + 8000$ and $E[X^2]$ to be $800, 000, 000 + 0.02K^2 $ but Im stuck here. Am I complete off or am I just missing something?