As per health insurance products, which of the following is not the product classified based on customer segments?
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Individual cover
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Mass policy
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Critical illness cover
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Group cover
C
Correct answer
Explanation
Products are also designed keeping in mind the target customer segment. The benefit structure, pricing, underwriting and marketing for each segment is quite distinct. Products classified based on customer segments are:
(1) Individual cover offered to retail customers and their family members
(2) Group cover offered to corporate clients, covering employees and groups, covering their members
(3) Mass policies for government schemes like RSBY covering very poor sections of the population