In life insurance, the policy amount is payable: On the death of the insured or on the expiry of policy period which ever is earlier Only when the insured has incurred the loss After the expiry of the policy period After the death of the assured. An annual payment which an insurer guarantees to pay for lump sum money received in the beginning is called Annuity Policy Claim Premium Ahmed discounted a bill of exchange amounting to OMR 6,000 hag a term of 3 months. He discounted the bill with bank immediately for a bank discount of 20%. Calculate the Bank Discoun OMR 600 OMR 1,200 OMR 300 None of these Calculate the amount received by Ahmed after discounting the bill Calculate the amount received by Ahmed after discounting the bil ho None of these OMR 5,700 OMR 4,800 OMR 5,400