Reviewed by Russell Noga, Licensed Insurance Agent — Last updated October 31, 2026
A critical illness insurance premium is set mainly by your age, tobacco use and the lump sum you pick. Published employer rate sheets show a $20,000 benefit costing under $10 a month in your 30s and well over $50 a month in your 60s.
Critical illness insurance pays a lump sum when you are diagnosed with a covered condition, such as invasive cancer, a heart attack or a stroke. The premium is what you pay each month to keep that promise in force. Because the benefit is a fixed dollar amount, pricing is simpler than health insurance: insurers price the lump sum, then adjust for your risk.
This page uses real, published rate sheets from employer plans so you can see actual numbers instead of guesses. If you are new to the product, start with our guide to critical illness insurance. If you are weighing it against a daily hospital benefit, see critical illness insurance vs hospital indemnity.
✔ Age drives cost
✔ Tobacco costs more