Which statement accurately describes health insurance?

Health insurance is designed specifically to provide coverage for medical expenses, which include both preventive care and treatment for various health issues. Preventive care encompasses services such as vaccinations, routine check-ups, and screenings that aim to prevent illnesses before they occur. Medical treatment includes costs associated with doctor visits, hospital stays, surgeries, and medications needed to address existing health conditions. By covering these types of expenses, health insurance plays a crucial role in helping individuals manage their healthcare costs and access necessary medical services without incurring overwhelming financial burdens.

The other options refer to entirely different areas of insurance or financial support. Coverage for property damage and personal liability pertains to homeowners or renters insurance, which protects against damages to personal belongings and liabilities arising from accidents. Income support during unemployment is relevant to unemployment insurance, which provides financial assistance to individuals who lose their jobs. Finally, funding retirement for seniors relates to retirement accounts and pension plans, which are designed to provide income during retirement years. Each of these options serves distinct purposes and does not align with the functions of health insurance.