From the following data calculate the cost per kilometer of a vehicle:
value of vehicle-150000rs.
license fees per year-5000rs.
garage rent per year-1000rs.
driver's salary per month-6000rs.
cost of petrol per litter-8rs.
kilometer per litter-8rs.
tyre & maintenance per km-2rs.
estimated life-150000km
estimated annual km-6000
insurance per year-2000rs.
Answers
Answer:
The following formula is used most frequently: Premium is equal to (1 + Risk-Free Rate) / (Present Value of Future Benefits).
Explanation:
The money paid by an individual or company for an insurance policy is known as the insurance premium. Insurance premiums are paid for life, vehicle, home, and health insurance coverage. The insurance firm receives income from the premium once it is earned.
In order to help investors reduce their tax obligation, ULIPs (Unit-Linked Investment Plans) expand the advantages of life insurance and capital market instruments.
However, individuals can only benefit from this life insurance product if they are aware of the different life insurance fees and charges that insurance companies impose on their clients.
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