A Comparative Study on Different Types of Premiums in Life Insurance Policies

An insurance system is a mechanism for reducing the adverse financial impact of random events that prevents the fulfillment of reasonable expectations, i.e. Insurance is designed to protect against serious financial reversals that may result from random events intruding on the plans of individuals. The Life Insurance Company calculates the policy price with the intent to recover claims to be paid and administrative costs and to make a profit. The cost of insurance is determined using the Mortality Table calculated by Actuaries. The insurance companies receive premiums from the policy owner and invest them to create a pool of money from which to pay claims and finance the insurance company’s operations. Rates charged for life insurance increase with the insured’s age because statistically people are more likely to die as they get older. In this paper, we have discussed different types of insurance policies including expenses and its impacts on lives. We also discussed the annual premium rates of endowment plans, three-payment plans and six-payment plans. Matlab programming is used to calculate the premium rates. Keywords: Insurance, Net premium, Endowment assurance, Three-payment plan, Six-payment plan, Life annuities

The linkage between corporate social responsibility and the main benefits obtained from the integration of multiple management systems in Bangladesh

Purpose: The aim of this study is to investigate the perceived benefits offered by integrated management system (IMS) in the readymade garments (RMG) sector in Bangladesh and the respective linkage with corporate social responsibility (CSR) to promote sustainable development. This study presents a list of IMS benefits composed of different international management standards according to ISO 9001:2015, ISO 14001:2015, OSHAS 18001: 2007 and SA 8000:2014. Design/methodology/approach: To identify the possible benefits of IMS, a systematic literature review was conducted from 2009 to 2019, namely, in the database of Elsevier, Emerald and John Wiley. A questionnaire survey was developed with the purpose of examining the perceived main benefits of IMS. The questionnaire was e-mailed to 355 representatives of 15 RMG sectors in Bangladesh. A total of 256 complete and useable responses were received, constituting the base of this work. Subsequently, statistical analysis was conducted using SPSS 20 software. Findings: The main findings of the present study show that the most important five benefits of IMS in RMG sector in Bangladesh are better capacity to achieve organization’s objectives, optimum use of various resources, business sustainability, synergies of different management policies and reduction of duplication efforts. Practical implications: Two major limitations of the study are as follows: first, it is not a longitudinal study; second, IMS benefits were examined in the national sector context. The present study has both theoretical and practical implications. The study presents a comprehensive list of IMS benefits that contribute to the existing literature from a theoretical point of view. On the other hand and from a practical point of view, this study encourages managers to implement IMS in their organizations. Originality/value: This study helps in understanding the contribution of IMS benefits to cleaner production and CSR in Bangladesh. The focus on the benefits of IMS in the RMG sector in Bangladesh is another significant aspect of this study because it promotes the development of environmental policies linked to CSR with stakeholder engagement, as a driver to sustainable development

EFFECT OF CREDIT RISK MANAGEMENT ON THE FINANCIAL PERFORMANCE OF BANKING SECTOR OF BANGLADESH: A STUDY ON GENERATION-BASED SELECTED LISTED COMMERCIAL BANKS

The financial sector of the country is mostly comprised of banking institutions; those are leading the economy with great exposure with the contribution to the development process. However, the banking sector of Bangladesh is disturbed by the large-scale amount of non-performing loans while has become an essential part of the finance of the industries. As part of the measurement of credit risk and macro factors average lending rate, inflation, NPL size, capital adequacy ratio, liquidity ratio have been selected to test the influence on the financial performance found through the return on asset of the selected banks. To conduct the study 9 banks of three generations have been selected for the period of 2016 to 2022. Robust least square method of regression and error correction term have been run to oversee the real impact on financial performance while endogenity and random walk in the values are being considered to overcome through a dynamic regression model. NPL has a negative impact on the performance and average lending rate, inflation, liquidity ratio and capital adequacy ratio bring a positive impact on the financial performance of the banks. Breusch-Pagan LM test confirms that cross-sectional dependency exists and VAR serial correlation test finds autocorrelation in the data set. The policy implication of this study suggests that the high NPL ratio must be reduced and CAR and LR must be improved to get the desired results of the performance. Strong fiscal and banking regulation should implement so that governance can be ensured to create responsibility and financial strength.JEL: E4, D81, E33, E44  Article visualizations

Mathematical Modeling of Life Insurance Policies

The Life Insurance Company calculates the policy price with intent to recover claims to be paid and administrative cost and to make profit. The cost of insurance is determined using Mortality Table calculated by Actuaries. The insurance companies receive premiums from the policy owner and invest them to create a pool of money from which to pay claims and finance the insurance company’s operations. Rates charged for life insurance increase with insured’s age because statistically people are more likely to die as they get older. In this paper, we discussed about different insurance policies including expenses. We have also discussed about the annual premium rates of both endowment plan and three-payment plans. We have used mathematical programming to calculate the premium rates

Correlated storage assignment approach in warehouses: A systematic literature review

Purpose: Correlation-based storage assignment approach has been intensively explored during the last three decades to improve the order picking efficiency. The purpose of this study is to present a comprehensive assessment of the literature about the state-of-the-art techniques used to solve correlated storage location assignment problems (CSLAP). Design/methodology/approach: A systematic literature review has been carried out based on content analysis to identify, select, analyze, and critically summarize all the studies available on CSLAP. This study begins with the selection of relevant keywords, and narrowing down the selected papers based on various criteria. Findings: Most correlated storage assignment problems are expressed as NP-hard integer programming models. The studies have revealed that CSLAP is evaluated with many approaches. The solution methods can be mainly categorized into heuristic approach, meta-heuristic approach, and data mining approach. With the advancement of computing power, researchers have taken up the challenge of solving more complex storage assignment problems. Furthermore, applications of the models developed are being tested on actual industry data to comprehend the efficiency of the models. Practical implications: The content of this article can be used as a guide to help practitioners and researchers to become adequately knowledgeable on CSLAP for their future work. Originality/value: Since there has been no recent state-of-the-art evaluation of CSLAP, this paper fills that need by systematizing and unifying recent work and identifying future research scopes

Residential Real Estate for Financing and Investments

Interest in real estate is increasing dramatically in recent years as the various ways of investing in and financing real estate continue to evolve. There are myriad of alternative ways of making equity investments in real estate, ranging from purchasing properties like an apartment building, either as an individual or in a partnership. Investments can also be made in mortgages, which is used in real estate ranging from making a mortgage loan (as a lender) or purchasing a publicly traded mortgage-backed security (residential or commercial). This paper calculates the asset value of mortgages real estate over the period of time with the help of Mathematica and computational power is used as evidenced through symbolic, numerical and graphical output. We present mathematical modeling of residential real estate financing and investment. It is helpful for the persons who just want to better understanding the real estate for their own personal investment and take financing decisions

Efficacy of postural awareness by booklet on back pain among the sweet makers

Background: The purpose of the study was to identify the efficacy of postural awareness by a booklet on back pain among sweet makers. Objective was to explore socio-demographic (age, gender, educational status, occupation) characteristics of sweet-makers with back pain. To compare the rating of pain intensity before and after postural awareness by a booklet with the back pain of sweet-makers. Methods: This study was conducted by pre-test post-test experimental study in which a total of 25 sweet-makers were selected with back pain from January 2021 to December 2022. Data were collected by using the functional rating index questionnaire to evaluate the activity of daily living and pain measured by the visual analogue scale questionnaire. Statistical package for the social sciences (SPSS) was used for data analysis. Results: In this study, the results showed significant improvement in the reduction of back pain and increase functional activities of daily living by postural awareness with an educational booklet among sweet-makers. The NPRS score in pair sample t-test before and after 15 days of postural awareness by booklet was the level of significant 0.000123, the mean of 0.640±0.700. The pattern of pain before and after 15 days of postural awareness by booklet was the level significant 0.042896 when the mean difference was -0.160±0.374. The referred pain before and after 15 days of postural awareness by booklet was 0.000032 level significant where the mean difference was -0.520±0.510. Conclusions: The result of this study suggests that postural awareness through a booklet on back pain was effective and it also improves activities of daily living among sweet-makers.

A good practice guide for ethical and inclusive communications involving small-scale fisheries

Today, small-scale fisheries are experiencing substantial climate, economic, and political changes. The power of communications can greatly influence how fisherfolk and small-scale fisheries are central or marginal, enabled or disenabled among these changes. Messages and discourse can shape perspectives on, and images of, small-scale fisheries, leading actors (including those who have power) to hold certain ideas and views on how they should be governed, thereby influencing outcomes. This guide provides practical and simple guidance on how to communicate about small-scale f isheries in an inclusive, responsible and ethical way that respects and recognizes the 120 million women, men and youth employed and engaged in the sector

Quality Assessment of Hydroxychloroquine Tablet A Comparative Evaluation of Drug Produced by Different Pharmaceutical Companies in Bangladesh

Hydroxychloroquine is the most commonly prescribed antimalarial extensively used to treat rheumatoid arthritis. It is extensively utilized as a repurposing drug, as well, in many countries worldwide to treat COVID-19. The pharmaceutical sector of Bangladesh is much enriched, and different pharmaceutical companies in Bangladesh produce this drug. Since the drug quality might vary significantly among different brands, assuring the quality of medicine is absolutely necessary considering the health issues, particularly therapeutic efficacy and safety. Therefore, this study examined the quality of hydroxychloroquine produced by Bangladeshi pharmaceutical companies, concentrating on quality control parameters: the assay, dissolution, disintegration, hardness, friability, and weight fluctuation. All the brands of hydroxychloroquine tablets contained the stated amount of API between the range of 96.41±0.62 and 100.61±0.71 that met USP specification (100±5%). All brands met the pharmacopeial limit for the percentage of weight fluctuation, hardness test, friability, and disintegration time. Weight variation was between 0.31±0.01% and 0.46±0.02%, hardness was between 4.31 ± 0.88 and 7.36 ± 0.74 kgf, friability was less than 1%, and disintegration time was 5.42± 0.11 and 5.42± 0.11 min. In the dissolution test, all the samples attained more than 70% dissolution after 30 minutes. The mean percentage of hydroxychloroquine released in phosphate buffer was between 95.44±0.55 (Brand B) and 98.19±0.39 (Brand C) after 60 min. No significant difference was among the tested drugs from different companies, and all quality assessment parameters were within USP specifications. Therefore, hydroxychloroquine from the Bangladesh market is safe and effective