Critical Illness Insurance

pays out a tax-free lump sum benefit if the insured is diagnosed with one of the contractually defined illnesses within the life of the policy, and survives the elimination period. These policies come in term coverage and permanent coverage (to age 100).

Disability Insurance

is insurance coverage designed to replace income if the insured becomes disabled from illness and/or injury, and is no longer able to complete the tasks of his/her profession. This is typically paid out as a tax-free monthly benefit. Benefit periods can be for 2 years, 5 years, or until age 65.