What is the main role of accident and health and disability insurance?

The main role of accident and health and disability insurance is to protect against medical care costs and loss of earning power. This type of insurance is specifically designed to cover expenses related to medical treatments, hospitalizations, and other healthcare needs that can arise from accidents or illnesses. Additionally, it provides financial support if an individual becomes unable to work due to a disability, ensuring that they can maintain their standard of living despite a loss of income.

Accident and health insurance typically covers a variety of healthcare costs, including hospital stays, surgeries, and preventive care, while disability insurance focuses on replacing lost income due to the inability to work. Together, these types of insurance offer a safety net, helping individuals manage unexpected medical expenses and the financial impact of not being able to earn an income.

In contrast, other options like providing retirement savings, offering tax benefits, or accumulating cash value pertain to different types of insurance products or financial instruments and do not reflect the primary purpose of accident and health and disability insurance.