Financial Help for Cancer Patients is Here

Learn about financial help for cancer patients, life insurance loans, borrowing against your life insurance death benefit, viatical settlements, and many other topics. Life Credit Company thrives on being your resource when it comes to financial help for cancer patients.

How to Manage the Cost of Treating Prostate Cancer

An early diagnosis and expert treatment are both keys to recovering from prostate cancer. Another often overlooked element of this journey is financial help for prostate cancer patients, which can assist them in receiving proper care and reducing stress—which can take a toll on one’s mental and physical health. Prostate cancer is a very survivable disease, but intervention usually involves surgery or even a series of surgeries combined with other therapies like radiation treatment. Costs vary widely and often depend on insurance and diagnosis, but a recent study by the University of California San Francisco found that one surgery for low-risk prostate cancer can cost more than $19,000, with a high-risk treatment averaging around $50,000. So, what financial help for prostate cancer patients is available? There are a number of options, such as the American Cancer Society’s wide-ranging resources for patients with varying types of cancer, including prostate. Cancer Care also offers individual condition-based financial resources, along with counseling and other assistance programs. There are also options for patients to access their own resources, such as through Life Credit’s Living Benefit Loans program. Patients with at least $75,000 in life insurance are eligible to receive up to half of their policy’s death benefit, which can be used as financial help for prostate cancer and those with other conditions. Borrowing against their own life insurance enables patients to access funds into which they’ve already paid quickly and easily, and to regain full ownership of the policy once the loan is repaid. Financial help for prostate cancer can be a significant contributor to one’s future health, as patients—even those who are... read more

Creating a Plan After a Cancer Diagnosis  

Planning is essential for any major life experience: going to college, buying a house, having a baby. Getting details in order, schedules on track and options sorted can help the best decisions be made, with the best outcomes. The same can be said for unfortunate situations such as a cancer diagnosis. A cancer care plan is an often-overlooked yet highly essential component of a person’s journey through and beyond cancer. From the day a diagnosis is delivered to the moment the news of remission comes, being prepared and informed through a cancer care plan can make each step a bit easier. What is the best way to make a cancer care plan? It’s important to proactively consider the different areas of your life that will be changed by your diagnosis, and then explore the options and opportunities that exist within each to make those changes more manageable. A typical plan could include: Treatment: Among the most important aspects of a cancer care plan is treatment. This portion of the strategy should include research about healthcare facilities, physicians and different treatments available. Patients should understand the ins and outs of each treatment, including the costs, side effects and recovery times. Finances: A cancer care plan should address the patient’s overall financial picture, including estimated costs for treatments, co-pays, and other medical expenses. This aspect of the plan should also include resources for financial assistance for cancer patients. Caregiving: Cancer can interrupt daily responsibilities, such as caring for children or elderly parents. A cancer care plan can address how those obligations will be handled during a patient’s treatment and recovery, including rotating schedules of family... read more

Unique Ways to Help with Cancer Research

Donating money for cancer patients is one way to help those in need—but, as cancer continues to ravage countless lives around the globe, support for cancer research is just as vital. Often when a person is diagnosed with cancer, he or she may start looking into ways to access assistance: programs that offer transportation to appointments, loans that provide money for cancer patients, employment-assistance initiatives to help people in recovery get back to work. While all of those efforts are vital, cancer patients may also find a source of comfort from giving back. Patients with cancer are part of a worldwide community, and investing in efforts to make that community smaller year by year can help those fighting their personal battle feel a bit more empowered and inspired. Here are a few ways that cancer patients, along with their loved ones, can support cancer research: Donate tissue: To really understand the root causes of cancer, researchers need to see the disease in action, and one of the best ways to do that is through live tissue. Agencies like the National Cancer Institute run large-scale research studies to which patients can donate tissue. Healthy tissue may also sometimes be needed, so family and friends of those fighting cancer should also explore this option. Organize a penny drive: A penny may not seem like much in the grand scheme of the need for money for cancer patients, but every cent counts. A penny drive in your neighborhood, through a child’s athletic group or at a local business can be a good way for the entire community of supporters surrounding a patient... read more

Programs and Resources to Help with Cancer Related Expenses

Cancer is a costly condition, one that puts patients at significant risk for financial burden, and even bankruptcy. When patients are facing a serious medical threat, they need all of their attention focused on their health, not their finances, yet the unfortunate reality is that many patients’ are caught between the two. However, research has shown that when patients can alleviate some of their financial stress, it benefits both their physical and mental health—and sets them up for a greater chance of success on the path to recovery. That’s why free resources for cancer patients are so vital. There are a number of areas where patients can access both information and financial assistance. Here are a few places that offer free resources for cancer patients: Government Agencies Patients may be eligible for financial-assistance programs through the federal government. Many such initiatives only apply to those from low-income households or over certain ages, but patients of all backgrounds should check eligibility requirements regardless. For instance, Centers for Medicare & Medicaid Services can provide vital free resources for cancer patients to help them close the financial gap that could make the difference in their health. Cancer Nonprofits One of the primary ways patients access both information about and funding for their care is through nonprofit organizations. The American Cancer Society is a nationally known agency with a range of programs to help patients pay for treatment. It also operates chapters throughout the country that provide local-level resources about everything from free transportation services to financial consultants. Healthcare Agencies Many organizations with a healthcare focus devote a segment of their work to... read more

Managing the Costs of Cancer Treatment

The list of things cancer patients have to manage can seem endless: doctor’s appointments, childcare, transportation, insurance challenges, and more. Loved ones may offer assistance for some of the workload and hospital programs can also help with some of the stress. One area where patients may struggle looking for assistance is cancer financial help. Finances can be among the most stressful aspect of a cancer diagnosis. From treatment bills to co-pays to medication costs, the costs can quickly add up, and cancer financial help isn’t always something patients can seek from family, friends, or healthcare providers. There are a few steps patients can take to make cancer financial help a reality: Make budgeting a priority: When a cancer diagnosis happens, financial obligations may change dramatically. It’s important to reassess one’s monthly income and expenses. Write out all money that comes in and goes out—estimating treatment or medication costs to the best of your ability—to see where some costs can be cut back or where extra financial support is needed. Seek cancer financial help in the form of loans: Initiatives like Life Credit’s Living Benefits Loan program allows patients in need to draw on their own life insurance policies for quick and easy loans. Patients can be connected with cash in just a few days, and once the loan is repaid, they resume control over their insurance policy and can continue to reap its benefits. Connect with your healthcare provider’s financial consultant: Many hospitals and cancer care centers offer patients a financial consultant to help walk them through their care costs. Consultants can connect patients with funding programs, show them... read more

How to Get Extra Insurance Coverage to Cover the Costs of Cancer

It’s an unfortunate reality that cancer is costly. While insurance is designed to help patients defray medical costs, cancer coverage is often a process filled with red tape, loopholes and a lot of headaches. Immediately after a cancer diagnosis, those who are uninsured will likely start researching getting life insurance with cancer, while patients who currently subscribe to a policy may explore their coverage to see what’s included, what’s not and how to bridge those gaps. Both will likely encounter some roadblocks. Getting life insurance with cancer can be more challenging than it should be, as providers may deny the person because cancer can be considered a pre-existing condition; the same approach may be invoked even for those who have long been paying into their insurance policy. Given the rising cancer rates in the country, some insurance companies have instated specific cancer insurance policies to help patients navigate the exorbitant costs associated with treatment, many of which may not be covered by their primary insurance. However, in most cases, plan participants need to sign up for this coverage before a diagnosis, making getting life insurance with cancer through that company a nonstarter. Even those predisposed to cancer may not seriously consider that they would develop the disease, nor would those who are otherwise healthy, so thinking ahead and paying extra premiums in case often isn’t on most plan participants’ radars. What then can patients do to defray treatment costs? Programs like Life Credit’s Living Benefits Loans allow patients to tap into another resource besides health insurance: life insurance. This initiative connects patients with up to half of their life... read more