Life Insurance

Consider the following statements about a scheme launched by the Government of India : It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through provision of assured pension/ return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI). Identify the scheme.

A life insurance agent found the following data for distribution of ages of 100 policy holders. Calculate the median age,if policies are given only to persons having age 18 years onwards but less than 60year.

A life insurance agent found the following data for distribution of ages of 100 policy holders. A policy holder is chosen at random. Find the sum of probabilities if a policy holder are chosen randomly of age (0-20) years and policy holders of age (25-30) years