Why Critical Illness Insurance Matters

SG Insurance
Aug 12
2 min read

— The Financial Safety Net Your Health Insurance Can’t Provide

1. The Financial Impact of a Serious Illness

Life-threatening illnesses such as stroke, cancer, and heart attack bring more than just medical challenges — they often cause severe financial strain.Treatment costs can run into tens or even hundreds of thousands of dollars, and recovery may require months away from work.According to the American Cancer Society, many cancer patients are unable to work for an average of 4 months during treatment, creating a significant loss of household income.

2. The Limits of Health Insurance

Many people believe that having health insurance is enough.However, traditional health insurance only covers a portion of medical expenses. It typically does not cover:

Living expenses
Rehabilitation and therapy costs
Caregiver services
Home modifications for accessibility (e.g., wheelchair ramps)

It also does not replace lost income when you are unable to work — which is often the biggest financial gap during recovery.

3. How Critical Illness Insurance Works

Critical Illness Insurance provides a lump-sum payment if you are diagnosed with a covered serious illness.With plans offered by SG Insurance Group, you can receive up to 75% of your policy’s benefit amount in advance, while the remaining balance stays as your life insurance benefit.The payout can be used for any purpose, including:

Medical and hospital bills
Prescription costs
Rehabilitation therapy
Mortgage or rent payments
Family support

4. Common Covered Conditions

While specific coverage varies by plan, common illnesses covered include:

Stroke
Invasive Cancer
Heart Attack
Major Organ Transplant
Blindness
ALS (Lou Gehrig’s Disease)
Paralysis from loss of two or more limbs
End-Stage Renal Failure (dialysis)

5. The Best Time to Get Covered Is Now

The best time to secure critical illness coverage is while you are still healthy.Once you’ve been diagnosed, it may be harder — or impossible — to get approved, and premiums are significantly higher.Younger applicants also enjoy lower rates, making early enrollment a smart long-term decision.

6. How SG Insurance Group Can Help

SG Insurance Group serves the Korean community in the Los Angeles and Orange County areas, offering personalized plans tailored to your health, financial situation, and family needs.We can also integrate Living Benefit riders into your existing life insurance policy, so you have protection for both death benefits and critical illness coverage in one plan.

📍 Free Consultation & Customized Planning