Question

What is one of the reasons why life insurance products are generally not given priority by individuals?

a.

Lack of awareness about the products and their utility

b.

Limited availability of insurance products in the market

c.

Complexity of insurance products

d.

High cost of insurance products

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (a).Lack of awareness about the products and their utility Explanation:One of the reasons why life insurance products are generally not given priority by individuals is the lack of awareness about the products and their utility.

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Q. What is one of the reasons why life insurance products are generally not given priority by individuals?
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