Is Critical Illness Insurance Life Insurance? 
No , life insurance covers you and pays your beneficiary when you die . Critical illness insurance pays you while you are still living to help offset the additional costs that may not be covered by your health insurance such as lost wages , alternative health treatments , deductibles and copay 's and other expenses . Some life insurance policies contain a critical illness rider that allows a portion of the death benefit to be paid when you are diagnosed whith a critical illness . 