by Life Credit Company | Sep 27, 2018 | Financial Assistance for Cancer Patients
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...
by Life Credit Company | Sep 19, 2018 | Financial Assistance for Cancer Patients
While much of the discussion about the impact of cancer centers on the physical repercussions of the disease, there are many other areas of a person’s life that are affected. Finances, for instance, often take a very serious hit when a person is battling cancer. What causes these hardships? The cost of treatment is perhaps the most significant roadblock for many patients. The price tag associated with chemotherapy, pill regimens or surgery can seem prohibitive to many; even with insurance, medical bills can pile up into the tens of thousands. That doesn’t include other costs, such as co-pays, transportation, equipment, and more. There are also a number of lifestyle changes that can impact finances. For instance, patients may have to reduce their working hours or stop working altogether, which can cripple the incoming cash flow. Factor into that added childcare costs while the person is in treatment or recovering and the challenging financial landscape comes more into focus. What are some ways to cope with these hardships? Patients may tap into their savings to meet these added costs, and can even borrow against life insurance. This is a more strategic approach, as it allows the person to meet immediate needs while still thinking about the future. Some insurance policies, particularly those that are whole or life, may allow holders to borrow against life insurance, though they will have that provision written into their policy and have to meet a range of criteria. Another option is a program like Life Credit’s Living Benefits Loan initiative, which has more flexibility eligibility requirements and is open to both whole- and term-life policyholders....
by Life Credit Company | Sep 6, 2018 | Quality of Life & Emotional Support
When a patient is given a diagnosis of cancer, the fears may immediately start piling on—about one’s health, future, family, finances, and much more. Despite state-of-the-art treatment and a good prognosis, worries and anxiety will surely continue to affect the quality of life of cancer patients. Even after a patient has gone into remission, he or she may still grapple with the residual stressors of the disease. That’s why help for cancer patients in the early stages of their journey is key. Building stress-reducing techniques into one’s daily habits encourages people to make healthy decisions day in and day out, leading to improved mental health and even physical health. Loved ones can provide help for cancer patients by encouraging them to adopt some stress-reduction habits, such as: Exercise: Physical activity is widely acknowledged to be one of the best ways to reduce stress. Some may question if it can actually provide help for cancer patients, who may not be able to have the same level of physical activity they once did. However, even minimal amounts of exercise have proven beneficial to mental wellbeing. A daily walk around the block or through a treatment center or a dip in a pool at a local gym can provide essential help for cancer patients. Healthy Eating: Stocking up on fruits and veggies is a great way to improve outlook and mood, in addition to fueling physical health. The nutrients in a healthy diet have been shown to provide help for cancer patients who are looking to reduce stress and stay centered. Exploring one’s culinary skills is also a fun and engaging way...
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