Question
What are the assumptions about rates of investment earnings, mortality, turnover and distribution or actual ages at which employees are likely to retire?
Solution
Actuarial cost assumptions include the expected benefit of the policy or pension, the age at which the pensioner is expected to retire, and the return on investment on the premiums the pensioner makes, among other things.
More Insurance Awareness Questions
- Written words in a policy take precedence over:
- What is the purpose of "excess" in an insurance policy?
- _____________ is a certification mark issued by the Bureau of Indian Standards (BIS) for products which are ecologically safe and adheres to the standards ...
- General Insurance Business (Nationalisation) Amendment Act 2002 (40 of 2002) coming into force from?
- Which of the following is NOT a factor considered in a "burning cost" analysis?
- Which of the following is NOT a typical type of insurance claim?
- What do you mean by money back policy in insurance?
- when a company has declared that there will be a dividend in the future but has not yet paid it out, it is known as?
- What is the purpose of a deductible in an insurance policy?
- Third Party Liability Premium rates are laid down by _______.
