Martin purchased a health insurance policy.In exchange for $10,the policy will pay $100 per-day for up to 60 days if Martin is hospitalized.The type of health insurance Martin purchased is called

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The policy Martin purchased is a hospital confinement indemnity insurance. This type of insurance pays a fixed amount for each day a policyholder is hospitalized, regardless of the actual medical expenses incurred. It is not a major medical insurance, which covers a wide range of medical expenses, or a long-term care insurance, which covers long-term care services. It is also not a specified disease insurance, which pays a fixed amount if the policyholder is diagnosed with a specific illness.

Martin Purchased a Health Insurance Policy