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प्रश्न
Solve the following :
A 35-year old person takes a policy for ₹1,00,000 for a period of 20 years. The rate of premium is ₹76 and the average rate of bonus is ₹7 per thousand p.a. If he dies after paying 10 annual premiums, what amount will his nominee receive?
उत्तर
Given, Policy value = ₹1 lakh,
Period of the policy = 20 years
But, the person dies after paying 10 annual premiums.
∴ Nominee will get entire Policy value of ₹1,00,000 on account of death. Also, rate of bonus is ₹7 per thousand per annum
∴ Bonus (per year) = `(7)/(1,000) xx 1,00,000` = ₹7,00
∴ Bonus for 10 years = 700 x 10 = ₹7,000
∴ Amount received by his nominee
= Policy value + Bonus
= 1,00,000 + 7,000
= ₹1,07,000
∴ Amount received by his nominee is ₹1,07,000.
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संबंधित प्रश्न
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The principle of indemnity is applicable to life insurance.
Define Life Insurance.
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A property valued at ₹7,00,000 is insured to the extent of ₹5,60,000 at `(5/8)^"th"` % less 20%. . Calculate the saving made in the premium.Find the amount of loss that the owner must bear, including premium, if the property is damaged to the extent of 40 % of its value.
State whether the following statement is True or False:
Premium is the amount paid to the insurance company every month
State whether the following statement is True or False:
The value of insured property is called policy value
Policy value = ₹ 80,000
Period of policy = 20 years
Amount of money paid in 10 years = `square`
Annualized average rate per bonus = ₹ 20 per thousand per year
For one year, bonus = `square/1000 xx 80,000`
= ₹ 1,600
Bonus for 10 years = `10 xx square`
= ₹ 16,000
Total amount after 10 years = `square + 16000`
= ₹ `square`
