Insurance Awareness - Health Insurance
Which of the following is a key feature that differentiates Critical Illness Insurance from traditional Health Insurance?
Which of the following is a key feature that differentiates Critical Illness Insurance from traditional Health Insurance?
medium Q4 of Q15
Step-by-Step Solution
Step 1: Compare features
Critical Illness Insurance pays a lump sum on diagnosis of specified illnesses, unlike health insurance which reimburses actual expenses or pays daily allowances.Step 2: Analyze options
Options A, B, and D relate to health insurance benefits, not critical illness cover.Final Answer:
Pays lump sum on diagnosis of specified illnesses → Option CQuick Check:
Lump sum payment is the fundamental difference from health insurance. ✅
Quick Trick: Lump sum = Critical Illness; Reimbursement = Health Insurance.
Common Mistakes:
MISTAKES- Mixing up payment types between insurance products.
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