Final answer:
The statement is false because health insurance covers medical expenses and is not meant to ease the burden of someone's death, which is the purpose of life insurance. Insurance, in general, helps to prevent financially detrimental events by pooling money from premiums and paying out when covered events occur.
Step-by-step explanation:
Health insurance is a form of protection that specifically covers expenses incurred for medical care, rather than easing the financial burden caused by someone's death. Life insurance, on the other hand, is the type of policy that provides financial compensation to beneficiaries when the insured person passes away. To clarify the statement:
Health insurance is a form of protection that eases the financial burden people may experience as a result of someone's death. True / False
The answer is False. Health insurance is designed to cover medical expenses such as doctor visits, hospital stays, and medications. Life insurance is intended to provide financial support to a deceased person's family or dependents.
Insurance is a method that households and firms use to prevent a single event from having a significant detrimental financial effect. Households or firms with insurance pay regular premiums to an insurance company, which pools the money and provides payments to insured members who suffer a specified bad experience. The various types of insurances include health insurance, car insurance, and house or renter's insurance, among others.