When the bonus is simple reversionary.

]]>please just answer one small doubt,

When do we multiply the bonus calculated with number of years? ]]>

hi vinayak,

understood the whole solution except the interim bonus part. the date for interim bonus is given as 31-3-2001 then why is it not being considered?

Hi Pritesh,

Have you attempted RAIP paper, if yes how was the new pattern and have you cleared the same.. Please share with forum

Harry

]]>Manish,

As per my info, for IB calculations, if the valuation date is 31.03.2001, then IB is payable only if policy would have been in force as on 31.03.2002. This is borne out by the problems you have indicated. The following are the solutions:

1. Answer is Rs. 89,720. Here you can observe that the policy year is 20.08.01 to 20.08.02, hence policy will be in force as of 31.03.02 and hence IB is payable.

2. The answer is Rs. 86,300. Here IB is not payable since policy expires on 20.02.02. The premium is refunded.

3. Here the relevant policy year is 20.05.2002 to 20.05.2003, hence IB is payable. The valuation date given in the problem should have been 31.03.2002. Two quarters premium will be deducted from the sum, hence the answer is Rs.88,760.

4. Here also IB is payable since policy would have been in force as of 31.03.2003. The answer is Rs.89,400.

Vinayak

]]>1.)Find out the claim amount payable if DOD is 18 – 8 – 2002, DOC is 20 – 8 – 1989,

LPP (Q) is 20 – 8 – 2002 paid on 6 – 8 – 2002, IP is 320/-, SA is 50,000/-, VB is 36,000/-,

IB as per valuation as on 31 – 3 – 2001 is 68/- per thousand.

(a) 89,720/-

(b) 89,400/-

(c) 86,000/-

(d) 86,320/-

2.)Find out the claim value payable if DOD is 18 – 2 – 2002, DOC is 20 – 2 – 1989, LPP

(Q) is 20 – 2 – 2002 ( paid on 6 – 2 – 2002), IP is 300/-, SA is 50,000/-, VB is 36,000/- and

IB as per valuation (31 – 3 – 2001) is 68/- per thousand.

(a) Rs. 89,700/-

(b) Rs. 86,300/-

(c) Rs. 89,400/-

(d) Rs. 86,000/-

3.) Calculate Claim Value if DOD is 18 8 2002, DOC is 20 5 1989, LPP (Q) is 20 8 2002

(paid on 6 8 2002), IP is 320/-, SA ia 50,000/- and VB is 36,000/- and IB is 68/- per

thousand as per valuation as on 31 03 2001.

(a) Rs. 85,360/-

(b) Rs. 88,760/-

(c) Rs. 86,320/-

(d) Rs. 89,720/-

4.) Find out the claim amount payable if DOD is 18 – 2 – 2003, DOC is 20 – 5 – 1989,

LPP (Q) is 20 – 2 – 2003 paid on 6 – 2 – 2003, IP is 300/-, SA is 50,000/-, VB is 36,000/-

and IB as per Valuation as on 31 – 3 – 2002 is 68/- per thousand.

(a) 89,700/-

(b) 86,300/-

(c) 86,000/-

(d) 89,400/-

Financial ]]>

Manish,

Yes, the premium is refunded because he has paid in advance for the succeeding quarter of next policy year.

Vinayak

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