No. of Recommendations: 0
>> Are there any insurance products that protect against financially catastrophic health events, but that aren't a standard health plan?
Maybe... might depend on what you want for benefits, and what risks you want hedged against.

You might want a Critical Care policy.... Very different from traditional health care, disability or long term care.

The premiums at one I have seen recently run from $17 annually (for ages 18-29 with the lowest benefite tier; $500/month up to 6 months) on up to $6,100 annually (age 80-84 with the highest benefit tier; $3,000/month up to 24 months.) You can mix & match to fit the age to benefits appropriate.

It buys a specific time period of payouts, from a max of 6, 12, 18 & 24 months.
The benefits can be chosen in $500/month increments up to $3,000/month (for the period named, above.)

This doesn't sound like what the OP wants, though. It sounds like they want a low cost, very high deductible catastrophic policy with essentially an extremely high deductible, as protection against an illness or injury that would wipe out a life savings -- something that would only kick in if an extremely costly condition arose.

The product you describe sounds like the opposite of what insurance should be -- covering the first small (often survivable) amount of money, but exposing you to catastrophic loss. Seems to me "insurance" should be something that protects you from catastrophic loss while allowing the insured to "cover" the smaller expenses themselves.

Am I missing something?

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