Critical Illness Insurance and Life Insurance are two separate products. Critical Illness Insurance provides a benefit while the insured person is still alive but diagnosed with cancer, stroke, or other covered illness. Life Insurance pays a death benefit to the insured person's beneficiary after having passed away from illness, accident, or any cause.
Some Life Insurance policies do have Critical Illness benefits built in or added on as a rider. With these policies, you can access some of the face amount while still alive if diagnosed with a covered critical illness. If that benefit is never used, the entire face amount is paid out upon the death of the Insured.
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Some Life Insurance policies do have Critical Illness benefits built in or added on as a rider. With these policies, you can access some of the face amount while still alive if diagnosed with a covered critical illness. If that benefit is never used, the entire face amount is paid out upon the death of the Insured.