About Critical
Illness
When people think of insurance, some of the terms get mixed up.
Life insurance, in actuality, is death insurance. It pays a beneficiary upon
your death.
Critical Illness insurance, on the other hand, is life insurance. It pays you
benefits when you need help.
What it is & How it works
Risks & History
| Critical Illness Insurance | Disability Insurance | |
| When Paid | Specific Illness | When you can't work |
| How Paid | Lump Sum | Monthly Income |
| End of Benefits | N/A | When Return to Work |
| Proof of Claim | Medical Criteria | When "Able" to Work |
| Residual Disability | Full Payment Regardless | Reduced or None |
| Continual Coverage | No, One Claim Only | Yes, Future DI Claims |
* 100% of premiums are guaranteed to be refunded upon death if no claim is paid. Therefore the cost for the coverage is simply the interest on the premiums you are investing.
