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(b) Calculate the amount of benefits paid(net) to be derived in schedule 4 of the revenue account. ( 3 marks) Particulars OMR Claims paid 197,000

(b) Calculate the amount of benefits paid(net) to be derived in schedule 4 of the revenue account. ( 3 marks)

Particulars

OMR

Claims paid

197,000

Claims outstanding at the end of the year

10,000

Claims outstanding at the beginning of the year

7,000

Reinsurance recoveries

80,000

Annuities paid

10,000

Surrenders paid

7,000

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