Since most of us are usually in good health, we start to take it for granted, nevertheless, it cannot be stressed enough that you need to get your health insured, to shield yourself from an uncertain future.

Especially if you are visiting Canada to study and have no immediate family to take care of you in the country, it is critical for you to apply for International student health insurance.

Since you cannot be lousy about your health, it is essential for you to make sure you get excellent services. JF Insurance Agency provides JF international student insurance that needs to be considered by every international student in Canada.


Without the constant flow of income and support from family, you are likely to go straight into the currents of bankruptcy. However, whether you are an international student, a foreigner in the country, or just a traveler visiting Canada, there are many insurance policies, like the one mentioned above, which are designed to assist you in case you are unable to go to work due to critical illness or severe injury.


In this blog, we shall be explaining what critical illness insurance is and how different it is from disability insurance. Furthermore, we will also explain why you need either and both of them.

While both the insurance have some similarities and both help you out of the financial dilemma, there are numerous significant differences between the two.


Disability Insurance

If you are unable to work due to a sudden injury or illness, the disability insurance will help you by providing monthly payment to make up for the loss of your monthly salary.

The disability insurance is designed to provide around 60 to 70 per cent of your total income. This helps you to resume your lifestyle before the calamity hits. Furthermore, it allows you to keep up with the expenses until you are fit enough to resume your work life.


The payment starts rolling after 90 days to your disability and the financial protection lasts until you turn 65!


No Taxes

Since the payment you receive is completely tax-free, it is equivalent to receiving your complete income.


The waiting period

Usually, there is a waiting period before you start receiving the payment after being disabled. Higher premium disability insurance makes you wait for a shorter period of time i.e 30 days. For lower premium disability, you are made to wait for 60 to 90 days before the monthly income starts to flow.


Eligibility for flexible payout

Disability insurance has certain eligibility criteria and your occupation is one of the leading factors.

You are supposed to select one of the options among “Own Occupation”, “Regular Occupation” and “Any Occupation.”  If you are a surgeon, for example, then you should select “Own Occupation”.

If, after your disability, you are not capable of performing surgeries, but still able to do other jobs, you will still be subjected to 70 percent of your income as a surgeon. This is all dependent on the conditions, more favorable conditions offer higher premium insurance.


Critical Illness insurance

Critical illness insurance, just like disability insurance, is designed to assist you when your health is compromised. However, unlike disability insurance, critical insurance pays you a total lump sum of your payment once for all. Critical Illness insurance usually covers critical medical conditions like cancer, heart attack, major surgeries and strokes.


The amount you will receive will be equivalent to the total amount you had selected while submitting the insurance application. Once you receive the payment, you are free to use it anyway. Critical illness insurance works better if you apply for Disability insurance alongside it.


Why do you need both insurances?

It is worth it to apply for both insurances, despite that they have different payment options and have different eligibility criteria. Both of them are designed to provide much-needed financial aid in case a mishap takes place. You can alleviate the potential risks of being completely left out by applying for both insurances.

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