Final answer:
COBRA's main purpose is to extend health insurance coverage for individuals after losing their job, allowing them to maintain their health insurance for a limited time by paying the full premium.
Step-by-step explanation:
The main purpose of insurance policies protected by COBRA is B) Extend insurance coverage after job loss.
COBRA, which stands for the Consolidated Omnibus Budget Reconciliation Act, was passed to ensure that individuals who lose their job can continue to have health insurance coverage even after their employment ends.
This coverage extends for a limited period and the former employee must pay the full premium to maintain their insurance.
This provision helps mitigate the risk of going uninsured due to unemployment or other factors that lead to the loss of health benefits sourced from an employer.