Which type of insurance is designed specifically for costs incurred due to medical expenses?

Health insurance is specifically designed to help individuals manage costs associated with medical expenses. This type of insurance covers a range of medical services, such as doctor visits, hospital stays, surgeries, preventive care, and prescription medications. The primary goal of health insurance is to reduce the financial burden of healthcare on policyholders, ensuring that they can access necessary medical care without facing prohibitive out-of-pocket costs.

In contrast, term life insurance focuses on providing a death benefit to beneficiaries upon the policyholder's death, which is unrelated to medical expenses. Disability insurance offers income replacement to individuals who become unable to work due to a disability, rather than covering medical costs directly. Property insurance is intended to cover damages or losses to physical property, such as homes or vehicles, and does not pertain to healthcare. Therefore, health insurance is the clear choice for addressing medical expenses specifically.