Is Health Insurance the same as Life Insurance?

No. Life Insurance protects your family (or dependents) from financial loss that may arise in the event of your untimely death/or if something happens to you. The payout is made only post the death of the person insured or at the maturity of the policy. Health Insurance protects you against ill-health/diseases by covering the expenses you might incur (for treatment, diagnosis, etc.) in case you are affected by disease or injury. There is no payout made at maturity. Health insurance also needs to be renewed annually.