Question

What is the consequence of over-pricing insurance products?

a.

Insured individuals feel satisfied with their purchase

b.

Insurers become financially strong

c.

Insured individuals feel cheated

d.

Insurers are unable to pay claims

Posted under IC 14 Regulations of Insurance Business

Answer: (c).Insured individuals feel cheated Explanation:The consequence of over-pricing insurance products is that insured individuals feel cheated because they perceive that they are paying more than the fair value for the insurance coverage.

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