Aisha, aged 25 years, female, purchased an insurance policy from Dhofar Insurance with a face value of 15,000 RO. The annual premium for straight life policy is: Rate table Five year Fixed rate Straight Life Age Male Female Age Male Female 20 1.57 1.27 20 5.90 4.24 25 1.65 1.33 25 7.13 6.35 30 1.87 1.56 30 8.85 7.75 35 2.23 1.76 35 11.26 9.71 40 3.52 2.44 40 14.54 12.46 O a. RO 19.95 O b. RO 106.95 O. RO 24.75 O d. RO 95.25

Aisha, aged 25 years, female, purchased an insurance policy from Dhofar Insurance with a face value of 15,000 RO. The annual premium for straight life policy is: Rate table Five year Fixed rate Straight Life Age Male Female Age Male Female 20 1.57 1.27 20 5.90 4.24 25 1.65 1.33 25 7.13 6.35 30 1.87 1.56 30 8.85 7.75 35 2.23 1.76 35 11.26 9.71 40 3.52 2.44 40 14.54 12.46 O a. RO 19.95 O b. RO 106.95 O. RO 24.75 O d. RO 95.25

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter8: Insuring Your Life

Section: Chapter Questions

Problem 6FPE

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Abeer, aged 30, female, purchased an insurance policy from National Life Insurance with a face value of 26,000 RO. The annual premium for five year fixed rate policy is: Rate table Five year Fixed rate Straight Life Age Male Female Age Male Female 20 1.57 1.27 20 5.90 4.24 25 1.65 1.33 25 7.13 6.35 30 1.87 1.56 30 8.85 7.75 35 2.23 1.76 35 11.26 9.71 40 3.52 2.44 40 14.54 12.46 O a. RO 230.1 O b. RO 48.62 O. RO 40.56 O d. RO 201.5
Marwan, aged 30, male, purchased an insurance policy from National Life Insurance with a face value of 15,000 RO. The annual premium for five year fixed rate policy is: Rate table Five year Fixed rate Straight Life Age Male Female Age Male Female 20 1.57 1.27 20 5.90 4.24 25 1.65 1.33 25 7.13 6.35 30 1.87 1.56 30 8.85 7.75 35 2.23 1.76 35 11.26 9.71 40 3.52 2.44 40 14.54 12.46 O a. RO 132.75 O b. RO 116.25 c. RO 28.05 O d. RO 23.4 The fixed expenses of manufacturing Samsung Television is RO 200. The cost of raw materials is 20 per unit flabour ic PO 12 and the cort of ouorboadr ic RO 2 per unit If Samsung makes 20 Television, find the
Marwan, aged 30, male, purchased an insurance policy from National Life Insurance with a face value of 15,000 RO. The annual premium for five year fixed rate policy is: Rate table Five year Fixed rate Straight Life Age Male Female Age Male Female 20 1.57 1.27 20 5.90 4.24 25 1.65 1.33 25 7.13 6.35 30 1.87 1.56 30 8.85 7.75 35 2.23 1.76 35 11.26 9.71 40 3.52 2.44 40 14.54 12.46 O a. RO 132.75 O b. RO 116.25 O c. RO 28.05 O d. RO 23.4
Clear my choice Abeer, aged 30, female, purchased an insurance policy from National Life Insurance with a face value of 26,000 RO. The annual premium for five year fixed rate policy is: Rate table Five year Fixed rate Straight Life Age Male Female Age Male Female 20 1.57 1.27 20 5.90 4.24 25 1.65 1.33 25 7.13 6.35 30 1.87 1,56 30 8.85 7.75 35 2.23 1.76 35 11.26 9.71 40 3.52 2.44 40 14.54 12.46 O a. RO 40.56 O b. RO 230.1 O c. RO 201.5 O d. RO 48.62
a. RO 209 Abeer, aged 30, female, purchased an insurance policy from National Life Insurance with a face value of 26,000 RO. The annual premium for five year fixed rate policy is: Rate table Five year Fixed rate Straight Life Age Male Female Age Male Female 20 1.57 1.27 20 5.90 4.24 25 1.65 1.33 25 7.13 6.35 30 1.87 1.56 30 8.85 7.75 35 2.23 1.76 35 11.26 9.71 40 3.52 2.44 40 14.54 12.46 a. RO 230.1 O b. RO 40.56 Oc. RO 48.62 O d. RO 201.5 How Jong would RO500 have o be left in an account paving 4% interest to give a balance of RO 600?
TABLE 20.1 Life insurance rates for males (for females, subtract 3 years from the age. Non-binary individuals currently need to apply as male or female.)² Five-year term Straight life Twenty- payment life 8.28 Twenty-year endowment 1.85 13.85 1.85 8.61 14.35 1.85 8.91 14.92 1.85 9.23 15.54 1.85 9.56 16.05 1.85 9.91 17.55 1.85 10.29 17.66 1.86 10.70 18.33 11.12 19.12 11.58 20.00 12.05 20.90 12.57 21.88 13.10 22.89 13.67 23.98 14.28 25.13 14.92 26.35 15.60 27.64 16.30 28.97 17.04 30.38 17.81 31.84 18.61 33.36 19.44 34.94 36.59 20.31 21.21 38.29 22.15 40.09 Age 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 2The life insurance tables in this chapter show premiums for a sampling of age groups, options, and coverage available to those under 45 years of age. Age 20 21 287285888 23 24 26 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 1.86 1.87 1.87 1.87 1.88 1.95 2.08 2.23 2.44 2.67 2.95 3.24 3.52 3.79 4.04 4.26 4.50 Age 20 21 22 23 24 25 26 27 28 29 30 31 32 33…
TABLE 20.1 Life insurance rates for males (for females, subtract 3 years from the age. Non-binary individuals currently need to apply as male or female.)² Five-year term Straight life Twenty- payment life Twenty-year endowment 1.85 5.90 13.85 1.85 6.13 14.35 1.85 6.35 14.92 1.85 6.60 15.54 1.85 6.85 16.05 1.85 7.13 17.55 1.85 7.43 17.66 1.86 7.75 18.33 1.86 8.08 19.12 1.87 8.46 20.00 1.87 8.85 20.90 1.87 9.27 21.88 1.88 9.71 22.89 1.95 10.20 23.98 2.08 10.71 25.13 2.23 11.26 26.35 2.44 11.84 27.64 2.67 12.46 28.97 2.95 13.12 30.38 3.24 13.81 31.84 3.52 33.36 3.79 34.94 14.54 15.30 16.11 16.96 4.04 36.59 4.26 38.29 4.50 17.86 40.09 Age 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Age 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Age 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 8.28 8.61 8.91 9.23 9.56 9.91 10.29 10.70 11.12 11.58 12.05 12.57 13.10 13.67 14.28 14.92 15.60 16.30 17.04 17.81 18.61…
Calculate the annual premium for the following policy. (Use Table 20.1.) (for females subtract 3 years from the table.) Note: Round your answer to the nearest cent. Amount of coverage (face value of policy) 183,000 $ Age and sex of insured 36 F Type of insurance policy 20-payment life Annual premium
Tommy Cook is 19 years old and is interested in purchasing a whole life insurance policy with a face value of $80,000. a. Calculate the annual insurance premium for this policy. Note: Refer to the tables in the text for input data. Face value= Number of $1,000 = Rate per $1,000 = (whole life insurance, male -19) Annual premium = b. Calculate the monthly insurance premiums. Monthly percent Monthly premium = c. How much more will Tommy pay per year if he chooses monthly payments? Total of monthly payments = If paid monthly = More will be paid
Darlene wants to buy a $200,000 term life insurance policy. She is 34 years old. Using the premium table, what is her annual premium for a 10-year policy? a $100 b. $108 C$1.202 d. $1.290
AXA Insurance company sells life insurance policies for 5 years for 25 year old man. The amount payable if the death occurs is 69000. The company actuary has calculated that the probability of death for 23-year old man over the next 8 years as the table below. Calculate the Net Single Premium for Term Insurance if the required return on insurance company is 5.05 % Age Number of living Number of Death Death Rate Survi 23 1250000 5500 24 6700 25 8800 26 9900 27 11000 28 12000 29 13000 30 14000 Select one: O a. NONE O b. 35000 O c. 37170.66 d. 35306.35 e. 37000.15
Mr. Kamal is one the insured in Al-Ahlia Insurance Company having a policy of 10-year fixed rate insurance. As per the policy, he will receive a face value of OMR 120,000. If Mr. Kamal is aged 60 years old, how much premium this company has to request him to pay each three (3) months? 10-Year Fixed Rate 20-Year Fixed Rate Straight-Life Age Male Female Male Female Male Female 20 1.21 1.17 1.82 1.76 2.72 2.63 30 1.27 1.23 1.91 1.85 3.49 3.38 40 1.46 1.41 2.20 2.13 4.02 3.88 50 2.41 2.33 3.63 3.51 5.18 5.01 60 4.72 4.56 7.11 6.88 8.21 7.93 a. OMR 566.4 b. OMR 288.864 c. OMR 147.264 d. OMR 49.56