Primary Benefit Insurance: Understanding Its Significance, Advantages, and Historical Roots
Primary benefit insurance, also known as primary coverage, is a fundamental aspect of insurance policies, acting as the first line of defense in providing financial protection. It is the primary source of coverage for an individual or entity in the event of a covered loss, such as property damage, medical expenses, or liability claims. For instance, in health insurance, primary coverage is the first layer of protection that covers medical bills before any secondary insurance or government programs come into play.