Critical Illness Insurance Premium: Real Rates by Age and Benefit Amount

Group critical illness plans sold through employers usually publish a rate per $1,000 of coverage for each age band. You multiply that rate by the number of thousands you choose. A rate of $0.68 per $1,000 on a $20,000 benefit is $13.60 a month.

Individual policies, bought on your own, are priced the same way in principle. The insurer looks at the benefit amount, your age, tobacco use, sometimes sex, and your state. Individual plans also ask health questions, which group plans often skip up to a guaranteed issue amount.

The table below comes from a published Johns Hopkins University benefit summary for a group critical illness plan insured by The Lincoln National Life Insurance Company. Rates are monthly, per $1,000, by attained age. The plan offers $10,000 to $30,000 of guaranteed coverage.

Premiums differ a lot between employers, even with the same carrier. A 2026 open enrollment flyer for Blessing Health, also insured by Lincoln, lists flat monthly rates by 10-year age band. A Missouri State University plan document, insured by American Heritage Life Insurance Company, lists flat rates for a $10,000 benefit.

The Missouri State plan includes extra built-in options, such as a wellness benefit, which helps explain its higher rate per dollar of benefit. Always compare what is covered, not just the price.

Attained-age pricing matters most for long-term cost. On the Lincoln sheet above, a non-tobacco member who keeps $20,000 from age 50 to 65 would see the monthly cost move from $29.60 to $91.60 as the bands change, assuming rates stay the same.

If you mainly worry about the cost of a hospital stay rather than a specific diagnosis, compare hospital indemnity insurance cost as well. Some people carry both.

Employer plans often offer guaranteed coverage up to a set amount, so you may not answer health questions at open enrollment. Premiums are paid by payroll deduction. Many group plans are portable, which means you may be able to keep coverage if you leave the job, usually by paying the insurer directly.

Individual policies are bought from a licensed insurance agent or direct from the insurer. They usually ask health questions and may decline applicants with recent cancer, heart disease or stroke. In exchange, coverage does not depend on your job. See our list of supplemental insurance providers and carrier pages such as Aflac critical illness insurance and Mutual of Omaha critical illness insurance.

For a deeper look at value, read is critical illness insurance worth it.

Published employer rates show that critical illness coverage can be inexpensive when you are young and tobacco-free, and much more costly in your 60s and 70s. Price the lump sum you actually need, check how the premium changes with age, and read the condition list and pre-existing condition rules before you buy.