What type of insurance is primarily designed to provide financial support in the event of a policyholder's death?

Life insurance is specifically designed to provide financial support to beneficiaries upon the death of the policyholder. Its main function is to replace lost income or provide financial resources for settling debts, funeral expenses, and maintaining the standard of living for dependents. This type of insurance can give peace of mind to policyholders, knowing that their loved ones will have financial security in the event of their passing.

Health insurance focuses on covering medical expenses and does not provide benefits for death. Property insurance protects physical assets against damage or loss but is not related to life events. Disability insurance offers financial support if a policyholder becomes unable to work due to a disability, but it also does not provide benefits upon death. Each of these other types of insurance serves a different purpose, making life insurance uniquely aligned with addressing the financial implications of the policyholder's death.