Week 4: Product Market Fit - Doing
What is an example of a good product? Why does it add value?
An example of a good product is something that has value, be understandable by users, perform their tasks easily and efficiently and becomes better and harder to part with the more they are used. For example, Apple products are something that people keep buying no matter how much the price keeps increasing. With each product, the product and design becomes better and adds more value to the brand.
Life insurance: Why is the product essential to our friends, family, and community?
Life insurance is essential to our friends, family and community because it ensures people’s loved ones aren’t facing financial hardships when someone passes away unexpectedly. Having life insurance can also help cover bills and debts. Life insurance helps reduce the stress of having to pay for bills and other services.
What concerns and questions do we need to answer about life insurance as a product?
Why do we need life insurance?
Life insurance provides the benefits to help pay off debts, help meet housing payments and ongoing living expenses, help fund college educations, provide cash when its needed most.
What type of life insurance policies are available?
There are two major types of life insurance - term and whole life. Term life provides coverage for a certain period of time. Whole life provides permanent death benefit coverage for the life of the insured.