Difference between critical illness life insurance and terminal illness life insurance
Critical illness life insurance is a type of life insurance where the policy holder receives a lump sum cash payment if diagnosed with a critical illness. The critical illness diagnosed must be available in the list of critical illnesses covered by the insurance company for payment to be made and the policy holder must survive the policy’s “Survival Period”, which starts from the date the illness was first diagnosed, in order to receive the payment. The “Survival Period” is usually 28 days or 30…
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