Question

Hich market areas do micro insurance product concentrate

Answer 1

Answer:

           No one is paying any Bonus in addition to the sum assured. The sum assured is capped between Rs 5,000 and Rs 50,000 or is defined as 100 times the annual premium. Some are giving refund or more than 110% of premium at maturity under term products.

          Therefore, the people with low income is the market area on which micro insurance product focus.