What Is The Difference Between Life Insurance And Critical Illness? 
The difference between life insurance and critical illness is that life insurance pays in the event of an unfortunate mishap upon the life of the policyholder . Life insurance pays an accelerated benefits upon the event of terminal illness in order to pay for medical bills including a waiver of premium for the time . Critical illness is a cash indemnity policy that pays cash benefits in lump sum tax free . Heart attack , stroke , kidney failure , and cancer are all covered . Lump sum payments are from 20,000 to 1,000,000 depending on company and policy . 