Both critical illness cover and income protection insurance are good ideas if you need financial help, should you fall ill and cannot work. However, they are not the same thing. The two types of cover differ by how you benefit from the pay-out. Critical illness cover will pay out in one lump sum when you claim on the policy. On the other hand, income protection insurance will pay out in monthly instalments. What’s more, the amount you receive from income protection insurance is linked to your salary, and will protect you against day-to-day illnesses and health reasons that leave you unable to work.