Heaven Life Insurance Co. furnishes you the following information:
Particulars |
Amount (Rs) |
Life Insurance fund on 31.03.2017 |
52,00,000 |
Net liability on 31.03.2017 as per actuarial valuation |
40,00,000 |
Interim bonus paid to policyholders during intervaluation period |
|
You are required to prepare:
(i) Valuation balance Sheet;
(ii) Statement of Net Profit for the valuation period; and
(iii) Amount due to the policy holders.