Final answer:
The answer matches each type of insurance—life, health, property and casualty, and disability—to its respective description. It also briefly explains the importance of insurance as a financial safety net.
Step-by-step explanation:
The question asks to match each type of insurance to its description. Here are the matches:
- Life insurance - This type of insurance provides a monetary benefit to a decedent's family or other designated beneficiary, and it typically pays out upon the insured individual's death.
- Health insurance - It covers the cost of an insured individual's medical and surgical expenses.
- Property and casualty insurance - This encompasses various types of insurance which protect against property losses to your car, home, or other belongings, and/or provide liability coverage for accidents that may occur at your home or at the hands of the homeowner within the policy territory.
- Disability insurance - This insurance provides financial support in the form of income replacement if the insured is unable to work due to disability.
Understanding these different types of insurance is valuable as they provide financial protection and security in various circumstances. They exemplify how insurance works by transferring the financial risk of life's uncertainties to an insurance company.