Commercial Applications
The asset which can only be perceived indirectly such as an insurance policy is called ……………
- Tangible product
- Intangible product
- Service
- None of these
Markets & Marketing
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Answer
Service
Reason — An insurance policy is a service because it is intangible and can only be perceived indirectly. The customer pays for the protection or assurance offered, not for any physical product. Insurance services are provided by insurance companies like LIC.
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