Insurance Awareness - Health Insurance
Which of the following best explains why health insurance is considered essential in India?
Which of the following best explains why health insurance is considered essential in India?
easy Q3 of Q15
Step-by-Step Solution
Step 1: Understand the importance of health insurance in India
Rising healthcare costs and unexpected medical emergencies make health insurance essential for financial protection.Step 2: Analyze options
Option B correctly explains that increasing medical treatment costs can cause serious financial distress. Option A relates to investment returns, Option C refers to disaster insurance, and Option D relates to property insurance, none of which explain the necessity of health insurance.Final Answer:
Because medical treatment costs are rising and can cause financial distress → Option BQuick Check:
High medical costs + financial risk = need for health insurance.
Quick Trick: Rising medical costs = health insurance necessity.
Common Mistakes:
MISTAKES- Confusing health insurance with investment or property insurance.
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