Which statement is generally correct about major medical policies?

Major medical policies are designed to cover a broad range of healthcare expenses, focusing on what is deemed reasonable and necessary. These policies typically include coverage for hospital stays, surgeries, preventive care, and other significant medical needs that arise during a person's healthcare journey.

By stating that they provide benefits for reasonable and necessary expenses, it captures the essence of how major medical insurance works—ensuring that the policyholder is protected against substantial medical costs while still adhering to guidelines of what is medically justified and essential for health maintenance.

The other options do not accurately characterize the nature of major medical policies. For instance, they do not exclusively cover catastrophic events, as they also address routine medical care; they do not cover all medical expenses without limits, as there are usually maximum out-of-pocket expenses and coverage limits; and they typically include prescription drug coverage rather than excluding it outright.