Average Cost of Critical Illness Insurance

What is the average cost for critical illness insurance?

What you really want to know is how to avoid overpaying.  You easily could overpay because each of the 60 insurance companies that offer critical illness insurance set their own prices.

A 48-year old male (non-smoker) could pay $160-per-year for $10,000 of critical illness insurance.  That’s what Company A charges.  Another company charges $290-per-year for the same $10,000 of coverage.

Don’t overpay.    This webpage provides information to help you find the best coverage for the best price.

Start By Taking The 30-Second Cost Challenge

Average cost of critical illness insuranceThe average cost isn’t the best cost.  The lowest cost for quality coverage is the best cost.

Use the Instant Cost Calculator featured on this website.  Get an immediate estimate of costs for $10,000 of cancer-only insurance. 

Rates are approximately based on the exclusive product offered via the Association’s website.

No personal information is needed to get the instant cost.  Click just one box (example Male or Female). You will instantly see a rate appear.

Rates for this policy change based on your sex.  With this policy, tobacco users pay more.  We will explain why this benefits non-tobacco users. 

Comprehensive critical illness insurance costs more.  That’s because the policy pays benefits for multiple conditions.  But you can just as easily get an instant comparison quote.

Average costs in an instant for critical illness insurance

average cost critical-illness-insurance-compareGet an instant cost quotes for both the exclusive cancer-only and comprehensive critical illness insurance.

Click the GET YOUR FREE QUOTE box that’s part of the advertisement to the right.

You will go directly to the website of an insurance company.  On their website, you’ll get costs.  You can apply online for insurance by answering a few health related questions.

Buy directly from the insurance company.  Take a minute to compare critical illness insurance costs. 

Average costs can be bad for non-smokers

Best critical illness insurance costs for non-smokersNon-Tobacco Users should not pay the same as tobacco users.
A cancer insurance or critical illness insurance policy can charge smokers more than non-smokers.

People who smoke cigarettes are 15 to 30 times more likely to get lung cancer according to the CDC. Smoking not only causes cancer. It can damage nearly every organ in the body, including the lungs, heart, blood vessels, reproductive organs, mouth, skin, eyes, and bones.  That’s directly from the American Cancer Society.

The Association recommends non-tobacco users compare costs.   Click that Get Your Free Quote button now.

Average costs don't always favor men. They also don't always favor women.

Each of the 60 insurance companies pay actuaries to price their critical illness policies.

Insurance pricing is part science.  It is also predicting the future.  For that reason, no two critical illness insurance policies are ever going to be exactly the same price.

Here is a real example based on the pricing for the Unified Life Insurance critical illness insurance.

An example of costs for $10,000 of critical illness insurance.

MALE PAYS LESS

MALE age 42, No-tobacco use:  $85-per-year
FEMALE age 42, No-tobacco use:  $93-per-year

FEMALE PAYS LESS

MALE age 52, No-tobacco:  $235-per-year
FEMALE age 47, No-tobacco:  $200-per-year

An example of $10,000 of cancer-only insurance costs.

MALE PAYS LESS

MALE age 42, Tobacco user:  $80-per-year
FEMALE age 42, Tobacco user:  $130-per-year

FEMALE PAYS LESS

MALE age 56, Tobacco user:  $640-per-year
FEMALE age 56, Tobacco use:  $500-per-year

All numbers on this page have been rounded and serve as an example.

Average Cost Tip: Get an instant cost for coverage

average cost critical-illness-insurance-compareGet an instant cost quotes for both the exclusive cancer-only and comprehensive critical illness insurance.

Click the GET YOUR FREE QUOTE box that’s part of the advertisement to the right.

Average Cost Tip: Compare if Your Employer Is Offering Critical Illness Insurance

If your Employer offers critical illness insurance here are things to compare:

  • Do you have both cancer-only and comprehensive critical illness options?
  • Compare the annual rate.
  • Can you pay monthly? Is there an added charge?
  • Are there any additional fees?
  • Do non-smokers pay the same as smokers?
  • Do men and women pay the same (for the same age)?
  • Are  premiums level or will they increase as you age?
  • If you leave the company, can you continue the coverage?
  • Does the policy terminate at a certain age?
  • Can my spouse or partner be covered by the same company?

Additional Critical Illness Insurance Information is available.  Besides information here,  access the Critical Illness Insurance Association’s News Archive to read the latest information on cancer, heart attacks, strokes and critical illness insurance.
Specifically, see the latest Facts About Cancer from the American Cancer Society.
Then see the latest Heart Disease Prevention Tips from the American Heart Association.

Compare Aetna, Unum, AFLAC and other critical illness insurance policies

Read more about getting the best critical illness insurance quotes.

Additional Tips for Consumers:

Firstly, your contract defines what is covered and what is not.  Verbal representations by agents or others are not binding.

Secondly, it is really important to think how many years you want this coverage to last.  For many, their critical illness insurance protection is most important until they retire (at age 65 or 70).  After that you will have Medicare and Social Security.  You home may be fully paid off.

Thirdly. it often pays to buy this coverage 30-to-60 days before your next birthday.  You may lock in lower rates.

Fourthly, for many people in their 40s and 50s. the chance you’ll use a critical illness insurance policy is higher than the chance you’ll use a disability insurance or life insurance policy.  We have some good information on this website.

Finally, only buy what you know you can afford not just now but for the next few years.  Too many people buy this coverage.  Then they have buyers remorse and don’t pay for year two.  When you do that, it may benefit the insurance agent but not you. 

Regardless of what you decide, we thank you for taking the time to visit the Association’s website.

 

Instant Insurance Cost Calculator

Tell us 3 things about you and see an instant quote for $10,000 of cancer-only insurance coverage. Why?
What is your gender?
What is your current age?
Are you a tobacco user?

ADVERTISEMENT

An Exclusive Offer

Highly affordable cancer or critical illness insurance

from Unified Life Insurance Company

  • Lump sum immediate cash benefits: $10,000 to $25,000
  • Ages 30 to 55
  • Rates starting as low as $3.25 per month
Unified Life critical illness insurance
American Association for Critical Illness Insurance
Not available in all states
Scroll to Top