Savings banks are permitted to sell a form of life insurance called savings bank life insurance (SBLI). The approval process consists of underwriting, which includes a review of the application, a medical information bureau check, possible requests for additional medical information and medical exams, and a policy compilation stage during which the policy pages are generated and sent to the bank for delivery. The ability to deliver approved policies to bank customers in a timely manner is critical to the profitability of this service to the bank. During a period of one month, a random sample of 27 approved policies was selected, and the following total processing times in days, were recorded; 90 73 56 19 31 16 56 92 64 22 28 45 51 28 18 31 60 48 17 17 17 91 63 50 69 16 17 How is the data distributed? Select the correct response: distribution is symmetric distribution is skewed to the left distribution is skewed distribution is skewed to the right

A life insurer issued a special endowment insurance policy to a life aged 35, with term 5 years. The death benefit payable at the end of the year of death, is equal to £1, 000 plus the reserve that would have been held at the end of the year had the policyholder been alive. The maturity benefit (benefit paid at maturity if the policyholder still alive) is £1, 000. The premium is £200, payable annually in advance. The basis is AM92 ultimate life table and the interest is 4% per annum.   (a) Find the reserve just before the payment of the 3rd premium by using the recursive relation between reserves.    (b) Find the policy value at issuance using the same recursive method as above.    (c) Explain why your answer to (b) is not consistent with the equivalence principle and give two examples of how this may have arisen.

Please do the following questions with full handwritten working out

1. Project Eastcoast Sdn. Bhd. is planning to buy an insurance plan to minimise the risk of losses. The insurance options are as below: Plan North i. South ii. West Project Eastcost Sdn. Bhd. historical losses incurred as below: Insurance Policy An insurance policy that provides RM5,000 of straight deductible attached to it with an annual policy limit of RM22,000. An insurance policy that provides RM22,000 of aggregate deductible attached to it with a coinsurance of 5 percent. Month of claim January April May August November December An insurance policy that required 15 percent coinsurance attached to it with no policy limit. Probability of losses 0.76 0.92 0.37 0.55 0.83 0.44 As a risk management consultant, you are required to advise Project Eastcoast Sdn. Bhd. on the preferable insurance plan. Amount of Possible Loss (RM) 8,200 6,500 10,500 9,600 1,700 5,800 Determine the amount retained by Project Eastcoast Sdn. Bhd. and the amount paid by insurer for Plan North, Plan South and…