Oman United Insurance Company SAOG, has offered a wide selection of Life & General Insurance Products to satisfy its customers. The company provided the following information about a policy. It shows that the premium payment depends on many variables such as age, gender, face value of policy and frequency of premium payment.

Questions i) If you are a 40-year-old male and want to buy OMR 150,000 face value scheme, what is the semi-annual premium using a Straight-Life scheme? ii) If you are female, 40 years old and wants to buy OMR 150,000 face value policy and to pay premium quarterly, how much will be the premium using 10-year fixed rate policy? iii) Compare the Straight life scheme and 10-year fixed rate scheme, which is the better deal? Why? iv) Instead of buying insurance for retirement, if Mr. Salim invests OMR 70,000 now at 8% compounded semi-annually, how much will be in his account after 12 years? v) If Mr. Mohammed invests OMR 70,000 now at 8% simple interest annually, how much will be in his account after 12 years? vi) As an investor which method of interest is more beneficial to Mr. Mohammed? Justify your answer.

Please provide comprehensive details and all parts solution.

Age 20 30 40 50 60 10-Year Fixed Rate Male Female 1.21 1.17 1.27 1.23 1.46 2.41 2.33 4.72 20-Year Fixed Rate Male Female 1.82 1.76 191 1.85 2.13 3.63 3.51 6.88 Straight-Life Male Female 2.72 2.63 3.49 3.38 4.02 3.88 5.01 8.21 7.93 2.20 5.18 Period Semiannually Quarterly Monthly Percent of Annual Premium 51.00 26.00 8.75 Age 20 30 40 50 60 10-Year Fixed Rate Male Female 1.21 1.17 1.27 1.23 1.46 2.41 2.33 4.72 20-Year Fixed Rate Male Female 1.82 1.76 191 1.85 2.13 3.63 3.51 6.88 Straight-Life Male Female 2.72 2.63 3.49 3.38 4.02 3.88 5.01 8.21 7.93 2.20 5.18 Period Semiannually Quarterly Monthly Percent of Annual Premium 51.00 26.00 8.75