Disability Insurance
These are the usual 3 categories of disability insurance:
Any Occupation:
Total disability for any occupation occurs when you are is able to work at absolutely no occupation any more. For that reason if you are working as a professional golfer, and your disability does not allow you to perform your regular work tasks, but you can still gainfully work as a checkout clerk in a store - you just won’t see your benefit.
Regular Occupation:
Under this definition, total disability is your being unable to work at your regular occupation because of an injury or an illness.
Own Occupation:
This particular definition is the gold standard. Total disability defined like this is one’s inability to work at one’s ordinary occupation no matter whether one is able to get work in another gainful position.
Ceteris paribus, the better the specification of disability, the more expensive the payment. This is reasonable since the insurance company is agreeing to take on a greater likelihood of the policy kicking in upon your claim.
Please find specific details about disability insurance comparing here.
Critical Illness Insurance
The other difference is that Critical Illness payouts aren’t tied to your ability to peform job duties and the price is expected to stay stable for the first 10 years, the first 20 years, to age 75 or age 100 respectively. If you are aiming for a longer premium guarantee period, you will have to pay a higher premium initially.