What is the difference between life insurance and critical illness insurance?

Life insurance is designed to pay a benefit to your beneficiaries if you pass away, helping provide financial support to those you leave behind.

Critical Illness Insurance, by contrast, is designed to provide financial support while you are living, following the diagnosis of a covered condition and subject to the policy terms. The benefit is paid directly to you and can be used at your discretion.

Both types of insurance serve different planning purposes and may play complementary roles in an overall insurance strategy.