August 2018 - Life Credit Company

How to Stay Organized When Times Get Tough

One of the best pieces of advice for cancer patients may be the simplest: Get organized. From appointments to clinical terminology, a major medical crisis like cancer can generate lots of things to remember. And between co-pay receipts, medical bills, and correspondence with doctors and insurance companies alike, cancer patients may find themselves drowning in a sea of paperwork. Getting and staying organized can be a big help for cancer patients, who already have enough on their minds without having to keep track of every detail that a diagnosis produces. Here are a few items of advice for cancer patients looking to make organization a part of their path to recovery. 3 Tips for Staying Organized Keep notes: Take detailed notes of all of your doctor’s visits, meetings with financial counselors and financial assistance companies, and even interactions with insurance companies. Bring along a loved one to help you log all of the details, or even set up a tape recorder or smartphone so you can revisit the conversations later. Save your paperwork: A dining room table covered in a mountain of bills and receipts is likely a common sight for most cancer patients. It’s important to save that paperwork, as you may need financial documents to challenge insurance decisions or for tax purposes, and all medical paperwork is important to establish a firm record of your case. But it’s easy enough to manage without all the mess. If you have a filing cabinet, clear out a drawer just for documents relating to your case; use color-coded folders or file tabs to differentiate among topics, such as Bills (Paid...

Overcoming Financial Stress as a Result of Cancer

Financial assistance for cancer patients isn’t simply a way to avoid debt or hang onto savings—it can also help patients avoid further physical complications and potentially hang onto years of their lives. The cost of cancer is one of the most serious, yet often overlooked, side effects of the disease. Since finances are often a personal matter, many may choose to keep the burden of mounting medical bills to themselves, which can only further a medical crisis. Stress, including from finances, has been proven to result in poorer physical outcomes. Those who choose to face the overwhelming cost of fighting cancer on their own may actually be putting all that they’re working for at risk. Just like with any stressful circumstance, those who seek help are closer to finding peace of mind—which, for those facing a serious illness like cancer, can literally be life-saving. Financial assistance for cancer patients can come in many forms. Because there is a lack of awareness around the financial impact of cancer, few people may be financially prepared if they receive such a diagnosis, meaning their best option may be to fall back onto the resources that they do have. Life insurance is one outlet that many have invested in, and which can be used in a time of crisis. Instead of selling a policy, however, Life Credit’s Living Benefit Loan program enables cancer patients to borrow against their policy’s death benefit—freeing up cash to help them meet their immediate needs without losing the future benefits of having such a policy. Apart from securing financial assistance for cancer patients, another key is dealing with...