PPI is not the same as Critical Illness Insurance. PPI (Payment Protection Insurance) is taken out when obtaining a large loan or mortgage, and payments may be included with the loan. It is to make payments (or pay off) the loan if the insured is unable to work (or passes away).
Critical Illness Insurance pays the insured a lump sump if the insured is diagnosed with a qualifying serious illness or health condition. Even if the insured works through treatments, the benefit will be paid to the insured person.
Payment Protection Insurance, or PPI, is insurance offered in some European countries and Australia. It is tied with a mortgage or loan. If the insured person is disabled due to injury, illness, or being laid off, PPI will make the mortgage or loan payments. Critical Illness Insurance in the United States will pay the insured a lump sum upon being diagnosed with some serious illnesses or health conditions. They can pay off their own bills with that money.
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Critical Illness Insurance pays the insured a lump sump if the insured is diagnosed with a qualifying serious illness or health condition. Even if the insured works through treatments, the benefit will be paid to the insured person.