Two MetLife companion studies found many families fall short in their ability to cover the expenses that come with experiencing a critical illness like a heart attack or cancer.

Studies show a critical illness can reduce a family’s income by more than $12,000 in the first year alone, even with medical coverage, and out-of-pocket expenses average around $3,000. Yet 46 percent of full-time workers have less than $5,000 in savings available to cover these expenses; nearly 30 percent have less than $500. [See related: Men face higher critical illness risk]

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