insurance

What is a catastrophic policy?

 

What is a catastrophic policy?

The Bankrate.com financial term of the day is: "Catastrophic Policy"

What's the worst that could happen? When it comes to your health, you can probably imagine various answers. A health insurance  catastrophic policy seeks to cover those scenarios primarily, in the interest of holding down your monthly insurance costs. The payments can be relatively inexpensive compared to other health plans, but routine medical care -- such as a visit to your doctor when you're sick -- would NOT be paid for. Coverage typically kicks in only after a high deductible has been met. After that, the limits on your coverage also can be high.

A catastrophic policy will protect you from a financial fiasco if your health takes a turn for the worst.

To shop for insurance to fit your needs, visit the Insurance section at Bankrate.com.

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