Answer :
Final answer:
The cost that is always incurred when buying insurance is the premium, which is necessary to maintain coverage. Although there are other potential costs like deductibles and co-payments, the premium is a consistent requirement. Thus, among the options provided, the premium is the correct answer.
Explanation:
Understanding Insurance Costs
When buying insurance, the most consistent cost encountered is the premium. A premium is the amount a policy-holder or sponsor must pay to secure health coverage. This payment is required regardless of whether the insured person utilizes the insurance or not.
In addition to the premium, other costs may include a deductible, which is the amount the insured needs to pay out-of-pocket before the insurer covers any expenses. For example, if an individual has a $1,000 deductible, they will pay this amount first before their insurance kicks in.
There are also co-payments, which are fixed amounts paid each time a service is accessed, such as a doctor's visit. While these additional costs apply, only the premium is guaranteed to be paid consistently as part of maintaining insurance, making it the primary constant cost when purchasing insurance.
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