What is the primary purpose of Accident and Sickness Insurance?

The primary purpose of Accident and Sickness Insurance is to provide financial protection and benefits to individuals who become disabled due to accidents or illnesses. This type of insurance is designed to cover medical expenses, lost income, and other related costs that arise when an individual cannot work or requires treatment due to an unexpected health issue.

Accident and Sickness Insurance plays a critical role in safeguarding an individual's financial well-being during challenging times, ensuring they have access to necessary healthcare services and resources to manage their condition. This coverage helps alleviate the financial burden that can accompany a disabling event, allowing the insured to focus on recovery rather than worrying about how to meet financial obligations.

Other options such as providing financial protection for automobile accidents, offering benefits for retirement planning, or compensating for property damage do not align with the core functions of Accident and Sickness Insurance, which is specifically aimed at addressing personal health-related incidents and the financial impact resulting from them.