If an insured recently received their major medical insurance policy and suffered an injury 20 days later, which statement is true regarding coverage?

In this scenario, the fact that the insured received their major medical insurance policy and then suffered an injury 20 days later doesn't directly imply they are without coverage. Major medical insurance policies generally require the insured to fulfill certain initial requirements, such as deductibles and possibly coinsurance, before the policy pays for covered expenses.

The correct statement reflects that both the deductible and coinsurance payments will be required. Deductibles are the amounts that the insured must pay out-of-pocket before the insurance company starts to pay its share. Coinsurance is the percentage of costs that the insured continues to pay after the deductible is satisfied.

These elements are common in major medical policies and indicate that while the policy is active from the moment it is received, the insured is still responsible for these cost-sharing components. This ensures that the insured has a financial stake in managing their healthcare costs. Thus, anyone who gets injured within a short time frame after receiving their policy would still be subject to these typical obligations outlined in their plan.

The reference to other options positions them outside the standard operations of major medical coverage, reinforcing that the insured's policy is in effect even if specific financial responsibilities apply to the coverage.