I haven't looked at the particulars recently. As I remember it is probably not enough for really good evacuation, major medical etc. costs. We usually buy an annual policy, such as Geo Blue, for that kind of extreme costs. We are late 70's now.
We had Platinum insurance for our South America cruise last December. We had to cancel three days before due to a health problem. It covered everything it was supposed to and, after sending in all the required documents online, (mostly Dr. affidavits) we had our money back within a week. Since we are Elite, the cost was very good. We were also lucky that all of our independent excursions were refunded quickly (if we had put deposits down), even the one that was supposed to be non-refundable that close to sailing.