Life Insurance Essay Example | Topics and Well Written Essays - 500 words

Life Insurance - Essay Example The amount that one receives upon the event of death is pre-fixed as it is the sum assured of the life insurance policy. To get the benefit of the life insurance scheme, the policy holder (generally the assured) has to pay certain sum to the insuring company, known as premium. Traditionally, the life insurance policies used to be of two main types namely term policy and endowment policy but now at the face of the increased competition, leading insurers have come up with more customised policies (like retirement pans, children education plans, investment plans, etc) to benefit the insured. While deciding the amount of sum assured, a person should keep several factors in mind. Firstly, he should calculate the amount that would be required by his heirs or the family to maintain the same standard of living that they presently have. Also, the payment of premium of life insurance helps in savings of one’s tax. But again, the sum assured and the sum of premium also depend on the age of the insured, place where they live among other factors. If the person (assuming he is the primary bread-earner) is around 35 years of age, a sum assured of US $ 100,000 would suffice the need. The husband can take such policy which can even act as his retirement planning. But again, the amount of sum assured would depend on the income that the person earns. The policy upon the lady of the family can bear the sum assured of at least US $ 75,000 (assuming her age to be above 30 and below 35). The child if aged around 8-10 can also have a policy. The policy of the child should be basicall y for the educational purposes and in addition of covering the life, the policy should get matured in such time, which would cater to the expenses of higher education for the child. It can also be in the range of US $ 100,000. It can be assessed from the above

Babybot Essay Example | Topics and Well Written Essays - 500 words

Babybot - Essay Example Accurate hand movements are vital for packaging and assembly positions (Thomas et al. 2014). To determine the relationship between employees’ scores on the manual dexterity test and their performance ratings, we take employees’ scores on manual dexterity test as x and performance rating as y. then we will determine slope M using the equation This implies that for every one unit of employee’s performance rate, there is 1.25 units of employees score on manual dexterity test. This means that increase in employees score on manual dexterity test by one unit implies that the performance rate increases by 1.25 units. If we assume that candidates with scores above 43 on the manual dexterity test were hired, this means that these candidates have a predicted performance 85. Looking at the sex issue, we see that the number of males hired is seven (7) and the number of females hired is 13, all of them above the cutoff of 43. Similarly, on race six (6) Hispanics, eight (8) whites and six (6) blacks were hired. Calculating in terms of percentages indicates that 81.25% females and 50% males were employed. The percentage of Spanish employed is 66.67%, blacks and whites hired were 66.67% and 81.25% respectively. Thus, the use of this test has adverse effects on sex in that the number of females hired was higher than the numbers of males hired. The use of this test discriminated males and favored females. Out of the total number of Hispanic candidates six of them were hired translating to 66.67%. 6/10 blacks were hire which is equivalent to 60%. 8/11 whites hired which is 72.73%. Therefore, the use of this test led to the employment of more whites than Hispanics and blacks. In view of the validity of the results, I would recommend the use of this kind of test because it is quick, easy to use and economical to administer measure of manual dexterity. Sub tests require no scoring keys and are quick to