What type of insurance covers some or all medical expenses in exchange for a monthly premium?

Health insurance is specifically designed to cover some or all medical expenses in exchange for a monthly premium. This type of insurance helps individuals manage the costs associated with healthcare, including doctor visits, hospital stays, prescription medications, and preventive services. By paying a premium, individuals can access necessary medical services without facing overwhelming out-of-pocket expenses.

In contrast, life insurance focuses on providing a financial benefit to beneficiaries in the event of the policyholder's death, disability insurance offers income replacement if the policyholder is unable to work due to a disability, and auto insurance covers damage to vehicles and liability in the event of car accidents. Each of these insurance types serves a distinct purpose and does not provide the same coverage for medical expenses as health insurance does.