Vol. 5 No. 1 (2022)

The international accounting standards employee benefits describe the accounting requirements for employee’s short-term, post-retirement, long-term and termination benefits. It further enshrines the principle that the cost of providing employee benefits should be recognized in the period over which benefits are earned by the employee and defines how each cohort of employee benefit is estimated. The objectives of this study are: (i) to estimate the liabilities of each members of the scheme under model (ii) to establish the mathematical condition under which the funding standard liability will be zero. This study applies the funding standard models for the computations of accruing liabilities for the current and past service liability of employees. Data in respect of different categories of employees was collected from a government institution in Jos North local government of Plateau state, Nigeria. The data includes the employee’s annual salary and their respective demographic statistics. This was used to obtain the number of years of pensionable service completed and the future years of services to be completed before retirement at the age of years. The study further employs life annuity table to compute the service liability of each member of the scheme. From our results, computational evidence proves that the total service liability of the plan will be vanishingly zero when certain mathematical annuity assumptions are imposed and hence this represents the condition for which the liability of the plan to the members to be zero.

This research aims to examine the relationship between product and premium, service, closeness, technology, security, responsiveness, and brand image with customers’ choice of insurance companies and the impact of customers’ choice factors on customers’ choice of insurance companies. The research has used primary sources of data. A well-structured questionnaire was designed to collect data from 400 respondents. The convenience sampling technique was used to select a sample for the study. Moreover, Cronbach’s Alpha was assessed to test reliability. The correlational and causal research designs were used. The findings revealed a positive and significant relationship between customers’ choice factors with customers’ choice of life insurance companies. All the factors have a significant impact on the choice of life insurance companies except Product and Premium. This study is useful for those managers and insurance policymakers who want to achieve wider markets. This research suggests a model that enhances the above-mentioned factors through the choice of insurance company in Nepal.