The correct option is D. Health and life insurance are the two types of insurance that are optional. Even though life insurance is not required in every estate plan, it can be beneficial, particularly for parents of small children and those who support a spouse or an adult or kid who is incapacitated. In addition to assisting with financial support for dependents, life insurance can assist in supplying quick cash upon death.
Its goal is to lessen monetary uncertainty and manage the unintentional loss. This is accomplished by exchanging the payment of a small, predetermined fee—an insurance premium—to a reputable insurer for the assumption of the risk of a significant loss and a guarantee to make payments in the case of such a loss.
If you don't have health insurance, you can be responsible for covering the full cost of all medical services, even preventative care. In addition to these additional benefits, health insurance is crucial because it can assist with some of the expenditures associated with urgent medical needs like illness or injury.
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