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 the stress that can come from financial worries in the same way one would deal with anxiety about the medical condition itself. Cancer support groups are a good source of friendly faces who have been through similar situations, and hospitals can also connect patients with financial advisors to help them talk through their options and come up with a plan. Being open and proactive about reducing financial stress can not only help individuals but may also be effective at generating wider conversations about the causes and effects of financial stress for cancer patients—as well as potential solutions.