What is a major hospitalization policy?
The Bankrate.com financial term of the day is: "major hospitalization policy."
A trip to the hospital can cost thousands of dollars, maybe even tens of thousands of dollars. A major hospitalization policy can be an affordable way to protect yourself from sky-high hospital bills. The insurance typically comes with a high deductible that you'll have to pay out of your own pocket before the coverage will kick in. Then, once the insurance takes over, you'll be covered up to a high limit. The policies are similar to major medical coverage for injuries and illnesses, except that they apply only to hospitalization, not any other related costs.
A major hospitalization policy can spare you from big financial pain if you wind up in the hospital.
To compare insurance policies, get a quote by visiting the Insurance section at Bankrate.com.
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