What does Catastrophic Illness Insurance mean? Read on to discover the definition & meaning of the term Catastrophic Illness Insurance - to help you better understand the language used in insurance policies.
Catastrophic Illness Insurance
Catastrophic illness insurance is insurance coverage that protects the insured for a specified duration in the event they develop one of the major health conditions or issues listed in the policy. Generally, the benefit comes in a lump sum payment. Coverage may include stroke, heart attack, cancer, and long-term hospitalization, among other critical health issues. This form of health insurance can provide additional coverage on top of an existing health or disability policy.
We hope the you have a better understanding of the meaning of Catastrophic Illness Insurance.