WHAT’S THE DIFFERENCE BETWEEN MEDICAL INSURANCE AND CRITICAL ILLNESS INSURANCE?
Everyone needs medical insurance, but not everyone needs critical illness protection. Is this statement true or false?
To answer that question, we must first find out what is the purpose of both policies. A medical insurance policy protects you in the event of a medical emergency which requires hospitalisation, by covering for the cost of treatment. On the other hand, a critical illness insurance policy provides financial aid in the form of a lump sum payout, in the event you are diagnosed with a critical illness. Still confused? It’s okay, we have an example of how they would play out in a person’s life.