Micro insurance is transacted by
Life Insurers only
Non-Life Insurers only
non-life and life insurers
None of them
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Answer:
Micro insurance is transacted by Life Insurers only
Explanation:
This is basically for low-income people. This includes health risks and property risks. This always covers only multiple small units rather than larger unit. There are basically 4 delivery methods namely partner-agent model, full service model, Provider-driven model, Mutual model. All schemes/ policies will be tailor made. Since its low-risk and low-project and since it has to serve low-income people, it is designed in such a way that the insurer pays smaller premiums.
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