2. Al Qatryah Insurance Company SAOG in Oman has offered a wide selection of Life & General Insurance Products to satisfy its customers. The company provided the following information about a policy. It shows that the premium payment depends on many variables such as age, gender, face value of policy and frequency of premium payment. Straight-Life Male 2.72 10-Year Fived Rate 20-Year Fixed Rate Age 20 Male Female Male Female Female 1.21 1.17 1.82 1.76 1.27 1.46 2.63 3.38 3.88 30 1.23 1.85 2.13 3.51 3.49 4.02 5.18 1.91 2.20 3.63 7.11 40 1.41 50 2.41 2.33 5.01 60 4.72 4.56 6.88 8.21 7.93
2. Al Qatryah Insurance Company SAOG in Oman has offered a wide selection of Life & General Insurance Products to satisfy its customers. The company provided the following information about a policy. It shows that the premium payment depends on many variables such as age, gender, face value of policy and frequency of premium payment. Straight-Life Male 2.72 10-Year Fived Rate 20-Year Fixed Rate Age 20 Male Female Male Female Female 1.21 1.17 1.82 1.76 1.27 1.46 2.63 3.38 3.88 30 1.23 1.85 2.13 3.51 3.49 4.02 5.18 1.91 2.20 3.63 7.11 40 1.41 50 2.41 2.33 5.01 60 4.72 4.56 6.88 8.21 7.93
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Transcribed Image Text:2. Al Qatryah Insurance Company SAOG in Oman has offered a wide selection of Life
& General Insurance Products to satisfy its customers. The company provided the
following information about a policy. It shows that the premium payment depends on
many variables such as age, gender, face value of policy and frequency of premium
payment.
Straight-Life
Female
10-Year Fixed Rate
20-Year Fixed Rate
Female
1.17
1.23
1.41
2.33
Male
Male
Female
Male
Age
20
1.21
1.82
1.76
2.72
3.49
4.02
2.63
30
1.27
1.91
1.85
3.38
2.13
3.51
6.88
40
1.46
2.20
3.88
50
2.41
4.72
5.18
5.01
7.93
3.63
60
4.56
7.11
8.21
Percent of
Annual
Period
Semiannually
Quarterly
Monthly
Premium
51.00
26.00
8.75
Questions
i) Assume you are a 20-year-old female and want to buy OMR 110,000face value scheme,
what is the annual premium using a 20-year fixed rate scheme?
ii) Assume your father who is 40 years old wants to buy OMR 110,000face value policy.
He wants to pay premium semi-annually. How much will be the premium using 20-
year fixed rate policy?
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