What is a major medical policy?
The Bankrate.com financial term of the day is: "major medical policy."
Let's say you're in good health, don't want to pay a lot for health insurance but do want coverage that would protect you from huge medical bills that could wipe out your bank account if you're in an accident or come down with a serious illness. What you're looking for is a major medical policy, sometimes called a catastrophic policy. These policies typically come with low premiums and a high deductible, meaning you're responsible for hundreds or even thousands of dollars' worth of the expenses before the insurance kicks in. Once it does, you can rest assured that you'll be covered up to a high limit.
A major medical policy is affordable health insurance that's mainly there to take care of the big stuff.
To shop for insurance to fit your family's needs, visit the Insurance section at Bankrate.com.