Life Insurance Vs Critical Illness Insurance: Which One Should You Get?
Insurance is there to provide protection against risk. Similarly, Life Insurance and Critical Illness Insurance also protect against risks but the difference is that they protect against two different kinds of risks. Let us now look at Life Insurance Vs Critical Illness Insurance and see where they differ from one another. The first and foremost difference is in the kinds of risks they provide protection against. Life insurance provides cover against the loss in finances when an earning individual of the family passes away while Critical Illness Insurance, the financial cover is provided for the treatment of the critical illness that is developed in the insured. It helps with the financial loss caused by the illness. In Life Insurance, the person who has bought the insurance, dies then the beneficiary will receive a lump sum amount. And in Critical Life Insurance, if the insured is diagnosed with an illness that's listed in the conditions covered by the critical illness cover, ...