CRITICAL ILLNESS INSURANCE | DISABILITY INSURANCE | |
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1. Benefit is paid at the diagnose of a covered critical condition | 1. Benefit is paid when you are unable to work due to injury or illness | |
2. Tax–free lump sum benefit | 2. Monthly Income replacement benefit | |
3. One-time payment | 3. Regular monthly payments | |
4. Coverage for life is available in some policies | 4. Coverage usually ends at age 65 | |
5. Payout usually after 30 days waiting period | 5. It varies depending upon your coverage | |
6. Critical Illness insurance is stackable | 6. Disability insurance is not as benefits are integrated | |
7. Only pre-specified life threatening critical illnesses are covered | 7. Any illness or injury that leads to loss of income are covered | |
8. Available to anyone willing to get a coverage | 8. Available to Only Employed people | |
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