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Questions and Answers
What is the main purpose of insurance according to the text?
What is the main purpose of insurance according to the text?
- To provide free healthcare to the insured
- To increase the cost of healthcare services
- To protect the insured from loss (correct)
- To guarantee payment for routine medical check-ups
How is healthcare insurance defined in the text?
How is healthcare insurance defined in the text?
- A contract between two policyholders
- A contract to reimburse policyholders for medical costs (correct)
- A contract to increase the cost of preventive care
- A contract to provide free healthcare to all citizens
What do insurance companies provide in exchange for premiums according to the text?
What do insurance companies provide in exchange for premiums according to the text?
- Guarantee for no future accidents
- Reimbursement for any medical expenses
- Guarantee payment for unforeseen events (correct)
- Protection from illness
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