What is the Critical Illness Payout vs Savings Calculator?

The Critical Illness Payout vs Savings Calculator is a free online tool that helps you compare your current savings against potential critical illness costs and estimate insurance payout needed.

How do I use the Critical Illness Payout vs Savings Calculator?

Simply enter your information into the calculator fields, and the tool will instantly calculate your results. All calculations are done in real-time in your browser.

Is the Critical Illness Payout vs Savings Calculator free to use?

Yes, this tool is completely free to use. No registration or payment required. All calculations are done in real-time in your browser.

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Critical Illness Payout vs Savings Calculator

Insurance Tools

Critical Illness Payout vs Savings Comparison Tool

Compare how your current savings stack up against potential medical and recovery costs for serious illnesses like cancer, heart attack, or stroke, and estimate the insurance payout needed to stay financially secure.

Compare Your Savings vs Critical Illness Costs

Enter your financial information to analyze your coverage gap

Age of Primary Earner

Current Emergency Savings

Annual Income

Months You'd Need Income Protection

Average Monthly Living Expenses

Estimated Medical Costs

Existing Critical Illness Coverage

How This Tool Works

This tool calculates your financial exposure if you were diagnosed with a covered critical illness such as cancer, heart attack, or stroke. It estimates out-of-pocket treatment costs, lost income, and living expenses, then compares that total against your available savings and existing coverage to determine the recommended insurance payout.

Typical Costs for Major Illnesses (U.S. Averages)

Illness Type	Avg. Out-of-Pocket Cost	Recovery Time	Typical Lost Income
Cancer (Stage 2–3)	$55,000–$100,000	12–18 months	$60,000+
Heart Attack	$38,000–$75,000	6–12 months	$50,000+
Stroke	$35,000–$80,000	9–18 months	$45,000+
Multiple Sclerosis (Early)	$25,000–$60,000	Long-term	$40,000+

Average Critical Illness Insurance Payouts

Coverage Type	Typical Lump Sum	Monthly Premium (40 y/o)	Key Benefits
Individual	$50,000	$25–$40	Pays tax-free lump sum
Family	$100,000–$150,000	$45–$80	Covers spouse and children
Comprehensive	$200,000+	$100–$150	Includes 30+ illness types

Key Insights

✅ Average U.S. family has <$30,000 in liquid savings

✅ 70% of critical illness costs stem from lost income, not hospital bills

✅ 1 in 3 people diagnosed with a major illness face a financial shortfall

✅ Critical illness insurance provides cash you can use freely, not tied to medical bills

Factors Affecting Your Coverage Gap

Your age and income level

Size of emergency fund

Dependents and living expenses

Health plan's out-of-pocket maximum

Length of recovery or job absence

Frequently Asked Questions

Q1: Is critical illness insurance worth it if I already have health insurance?

A: Health insurance covers medical bills, but not lost income or living costs during recovery.

Q2: Are payouts taxable?

A: No, lump-sum critical illness benefits are typically tax-free.

Q3: Which illnesses are covered?

A: Most plans include cancer, heart attack, stroke, and organ failure, but coverage varies by insurer.

Q4: Can I buy coverage if I'm self-employed?

A: Yes, many carriers offer individual or business-owner policies.