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Ali has approached the insurance company, for an insurance policy with the face value of RO 400,000 for 20 years. He is aged 30 years

Ali has approached the insurance company, for an insurance policy with the face value of RO 400,000 for 20 years. He is aged 30 years now. You are required to calculate the annual premium, (Refer the table to calculate premium) considering; (a) A 20-year fixed rate policy and (b) A straight life policy

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