Table of Contents
Table of Contents
Difference Between Critical Illness & Disability Income Insurance
Critical illness insurance pays a lump sum if the insured person is diagnosed with a covered illness, whereas disability income insurance provides monthly payments if the insured person becomes disabled and can't work. Both types of insurance can provide financial support during a difficult time, but they cover different situations and have different benefits.
Difference Between Critical Illness & Health Insurance
Critical illness insurance provides a lump sum payment if the insured person is diagnosed with a serious illness. Health insurance, on the other hand, covers medical expenses related to illness or injury. Critical illness insurance is designed to provide financial support for non-medical expenses while health insurance covers medical expenses directly. Both types of insurance can be important to have, as they offer different types of protection.
Why I Bought Long-Term Care Insurance in My 20s
The author explains that the earlier you purchase the insurance, the cheaper it is and the more likely you are to qualify for it. They also highlights the importance of being financially prepared for long-term care as it can be very expensive. She concludes that purchasing long-term care insurance was a smart decision for her and encourages others to consider it as well.
