Which of the following statements about health insurance is false

A. People use insurance to reduce their risk of having very large medical expenses
B. Insurance plans with different premiums and deductibles let you decide how much financial loss you are willing to risk
C. Paying for health insurance is always cheaper than paying for your own medical expenses
D. None of the above

Option C

Explanation:

The reason is that the health insurance plan helps the insurer to limit the risk of paying one off payment to contribute for his or her health so it can help to shift this risk to another party (Health Insurance Company) by contributing a small amount of money.

Furthermore, the insurance planning also helps in accepting the level of risk to shift to the insurance company and retain the risk share to itself because the person might think he will not face such risks in future.

The paying for health insurance might be more expensive than the original expense because their are chances that the person doesn't gets ill because he follows proper diet plans, is health conscious and take exercise daily. So paying for health insurance becomes a burden. So the option C is incorrect.

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