Statistics 2020 for Critical Illness Insurance

Statistics 2020. Here are the top critical illness insurance statistics.  Information provided by the American Association for Critical Illness Insurance.

  • Current policies / certificates
  • New Buyers (latest year)
  • Buyers: Average age of buyers
  • Claimants: Average age of claimants
  • Types of Claims (by diagnosis)
  • Benefit Amount (New business)
  • Market Size (2018)

    Latest update posted: April 21, 2020

Reporters, bloggers and writers seeking facts, data and information

critical illness insurance expert
Jesse Slome, director of the American Association for Critical Illness Insurance

Contact Jesse Slome if you would like additional information. 

The American Association for Critical Illness Insurance advocates for the importance of planning. 

Specifically all information on our website may be used.  Credit the American Association for Critical Illness Insurance.  Likewise, please include a link to our homepage where possible.

Additional pages where we have posted valuable statistics and data

Latest data regarding heart attack statistics in the U.S.  Click this link.

Statistics 2020: How many current CI policies or certificates?

Statistics 2020 critical illness
Five million Americans currently have critical illness insurance (AACII).

There are five million Americans who have critical illness insurance coverage as of January 1, 2020. 

The number has increased compared to prior years.

This data based on the American Association for Critical Illness Insurance 2020 report.

Statistics 2020: How many new certificates or policies were purchased?

Critical illness insurance statistics new sales
1.6 million certificates and policies were purchased (2019).

Over one and a half million Americans purchased coverage last year. 

Most purchase coverage through the worksite.

Market Size (Latest Data)

critical illness insurance market size
Critical illness insurance market size (U.S., 2018)

2018 new sales and in-force business as reported by Gen Re, U.S. Group Critical Illness Insurance Market Survey (2018/2019 results).

Statistics 2020: What is the average age of new critical illness insurance buyers?

statistics 2020 critical illness insurance
Average Age of Buyers

The average age of U.S. critical illness insurance buyers is 43.  The American Association for Critical Illness Insurance reported data on April 6, 2020.

  • Average age for new buyer of traditional ci insurance: 46.6
  • For Group / Worksite using attained age pricing: 41.5
  • Group / Worksite using issue age: 41.9
    Data shared by Gen Re’s 2018/2019 U.S. Critical Illness Insurance Market Survey.

Statistics 2020: Benefit amounts purchased?

statistics critical illness insurance buyers
Average Benefit Amount Purchased

The average critical illness insurance new benefit amount varies.  Traditional individual policies purchased through an insurance agent tend to be significantly larger.

Critical illness insurance policies purchased through the worksite are smaller.  They ranged from $12,961 for policies using attained age pricing to $15,408 for policies using issue age pricing.

Statistics 2020: What is the average age for critical illness insurance claims?

Critical illness insurance statistics age of claims
Average age at time of claim.

At the time of claim, the average age of a traditional individual claimant was 55.1 years.  For Group/Worksite attained age pricing, the average age was 47.8.  For Group/Worksite issue age pricing the average claimant age was 50.5.

Data shared by Gen Re U.S. Critical Illness Insurance Market Survey, 2018/2019 results.

Statistics 2020: What is the reasons policyholders claim benefits?

Claims critical illness insurance data
Cancer is the main reason for claims.

Cancer is the reason for half (50%) of all claims; traditional individual policies.  Cancer is the reason for nearly two-thirds (64%) of Group policies (attained age pricing).

Reasons for claims for Group (issue age pricing policies) are cancer (47%), heart attack (18%), stroke (8%) all other (27%). 

Data shared by Gen Re U.S. Critical Illness Insurance Market Survey, 2018/2019 results.

Critical illness insurance association best source for statistics

Firstly, we strive to provide relevant data and statistics.
Secondly, if there is information you don’t see here call us.
Thirdly, this section was added to ensure page prominence.
Fourthly, transition words like this are included because they matter.
Finally, thank you for visiting the Association’s website.

A message for consumers.  Critical illness insurance products can vary significantly.  Firstly, the price can differ.  Additionally available options can also vary.

The Association has chosen to encourage consumers to compare one offering.  Click the banner ad to learn more about the policy from United Life Insurance Company. 

We gave input into the product design.  Significantly it has some consumer-friendly options.

Secondly, their policy contains important features that we believe benefit consumers.

Specifically we recommend consumers consider both a cancer-only and comprehensive critical illness insurance option.

Similarly policies should offer both smoker and non-smoker rates.  Undoubtedly that is a potential cost-savings for non-smokers.

Obviously it is advisable to compare options and prices.  Similarly, decide if you want coverage that continues past age 70. 

Additional Resources for Insurance Quotes

Here are links to our other insurance industry organizations.
For long-term care insurance quotes visit the American Association for Long-Term Care Insurance.

To find Medicare Insurance agents use the Medicare Insurance Agent directory offered by the  American Association for Medicare Supplement Insurance.

Tips for finding the best critical illness insurance policy.
Obviously, compare costs and benefits.
If you are in your 40s significantly consider a cancer-only policy.  Likewise, if you are in your 50s, compare a comprehensive ci policy. If you do not use tobacco products it is equally important to find a policy that offers non-smoker rates.  Rates shown online may not be accurate because rates vary by State.  If you have health conditions, certainly compare a policy that is guaranteed issue.  If you have no health issues conversely compare a plan that asks health questions.  It may save you money which unquestionably can be desirable.  Finally always read your policy when it arrives.  It explicitly contains all the information you need to know.  Indeed that is the smartest move you can make.

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