Which of the following best describes health insurance?

Ainsurance underwritten for a group as a whole rather than each individual in it

Binsurance covering losses resulting from physical damage to or loss of the insured's real estate or personal property

Ccoverage provided by a firm to employees for medical expenses, loss of wages, and rehabilitation costs resulting from job-related injuries or disease

Dinsurance covering losses resulting from medical and hospital expenses as well as income lost from injury or disease

Well, insurance does not really cover something if you lose it, so A and B are out of the question. And depending if you were using a work beneficiary, like health insurance, it would be C, but for this one I would consider the answer as being D. Simple because, if you get hurt, they will cover it (if you have insurance.) (sometimes)

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AkshayG AkshayG · Answer 2 · 2020-03-12T05:29:58-04:00

Option (D) is correct. Insurance covering losses resulting from medical and hospital expenses as well as income lost from injury or disease is considered as health insurance.

Further Explanation:

Health insurance:

Health insurance refers to the insurance coverage which pays for the medical and surgical expenses of the insured person. The health insurance covers the risk of medical expenses of the insured person and other covered individuals. It provides coverage for the payment of the expenses incurred due to sickness or injury. The insured person pays the periodic premium and receives the coverage at the time of the contingency.

Justification for the correct and incorrect option:

A.

Insurance underwritten for a group as a whole rather than each individual in it: This is an incorrect option. The health insurance is not underwritten for the life of the individual or group.

B.

Insurance covering losses resulting from physical damage to or loss of the insured's real estate or personal property: This is an incorrect option. The insurance that covers the physical damage of the property comes under property insurance.

C.

Coverage provided by a firm to employees for medical expenses, loss of wages, and rehabilitation costs resulting from job-related injuries or disease: This is an incorrect option because it is not mandatory that the medical insurance is provided by the employer.

D.

Insurance covering losses resulting from medical and hospital expenses as well as income lost from injury or disease: This is the correct option because the medical insurance covers the losses from the injury and diseases.

Thus, option (D) is correct. Insurance covering losses resulting from medical and hospital expenses as well as income lost from injury or disease is considered as health insurance.

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Answer Details:

Grade: Senior School

Chapter: Insurance

Subject: Business Studies

Keywords: best, health, insurance, insurance, underwritten, group, whole, rather, than, each, individual, coverage, employees, medical, expenses, loss of wages, rehabilitation, costs, resulting, job-related, injuries, disease, insurance, covering, losses, resulting, medical, hospital, expenses, income, loss, injury, disease.