Which of the following best characterizes the purpose of accident and sickness insurance?

The purpose of accident and sickness insurance is primarily to protect individuals against loss of income due to health issues. This type of insurance is designed to provide financial support during times when a person is unable to work due to illness or injury. It helps cover expenses such as lost wages, medical bills, and other related costs that may arise when an individual is incapacitated.

Accident and sickness insurance directly addresses the financial impact of unexpected health events, ensuring that individuals can maintain their standard of living and manage their financial obligations even when they cannot earn an income.

In contrast to other types of insurance, which focus on property, liability, or preventative measures, accident and sickness insurance specifically targets the risk of income loss associated with health problems. This makes it a crucial safety net for many individuals facing unforeseen medical challenges.