Question No 3: Ms.Fatma has taken a life insurance policy with Oman insurance for a sum of RO 86,000 to be paid monthly on 25/06/2018 with DAB. The risk premium amounts to RO 60 per thousand per annum and the expenses of the insurer to cover the risk amounts to RO 5 per thousand sum assured & RO 1 per thousand per annum for DAB. The Rebate and Extra for Sum assured, and Mode of premium payment is given below. Sum Assured Rebate or Extra Premium Payment Mode Rebate or Extra 0-15000 1% extra Monthly 0.5% extra 15001-50000 NIL Quarterly 0.25% Extra 50001 - 85000 1% Rebate Half yearly 0.5% Rebate 85001 - 100000 1.5% Rebate Yearly 1% Rebate. a. Calculate the monthly premium to be paid (4 Marks) b. Explain the different types of premium used in the above case (2 Marks) c. Select any one insurance company in Oman which provides life insurance and explain the features of any one of their life insurances plans. (300 words) (4 Marks) Question No 3: Ms.Fatma has taken a life insurance policy with Oman insurance for a sum of RO 86,000 to be paid monthly on 25/06/2018 with DAB. The risk premium amounts to RO 60 per thousand per annum and the expenses of the insurer to cover the risk amounts to RO 5 per thousand sum assured & RO 1 per thousand per annum for DAB. The Rebate and Extra for Sum assured, and Mode of premium payment is given below. Sum Assured Rebate or Extra Premium Payment Mode Rebate or Extra 0-15000 1% extra Monthly 0.5% extra 15001-50000 NIL Quarterly 0.25% Extra 50001 - 85000 1% Rebate Half yearly 0.5% Rebate 85001 - 100000 1.5% Rebate Yearly 1% Rebate. a. Calculate the monthly premium to be paid (4 Marks) b. Explain the different types of premium used in the above case (2 Marks) c. Select any one insurance company in Oman which provides life insurance and explain the features of any one of their life insurances plans. (300 words) (4 Marks)