Product policy encompasses all decision-making aspects related to the market-oriented design of an insurer’s products and services. Since the enduring fulfillment of customer needs or the generation of customer value is a prerequisite for sustainable sales and growth, product policy plays a special role in achieving corporate goals. Product policy also influences other marketing tools (price, service, communication, and distribution), as these are usually related to the product or should be. Therefore, product policy generally has a special significance among the marketing tools in the marketing mix, and it was even previously referred to as the “heart of marketing” (Kotler and Bliemel 1992, p. 702; Meffert and Bruhn 1995, p. 361). However, the introductory chapter to this book has already emphasized that this only applies to insurance products to a limited extent. For these, not least because of the lower customer interest and the credence good character, the sales and communication policy play an (at least) equally important role.