What does Major Medical Insurance mean? Read on to discover the definition & meaning of the term Major Medical Insurance - to help you better understand the language used in insurance policies.
Major Medical Insurance
Major medical insurance is a type of health insurance that is often purchased as a supplement to a standard health insurance policy. Major medical insurance typically covers very large medical expenses, such as prolonged hospital stays. Major medical insurance tends to carry high deductibles. However, once the deductible is met, the insurance can cover a very high amount of medical expenses. It is important to note that many major medical policies also have a capped amount of what they will cover during the lifetime of the policy.
We hope the you have a better understanding of the meaning of Major Medical Insurance.