The Cost of Cancer

Cancer is an illness that robs sufferers of their health, time, feelings, looks, and relationships. Cancer is also an illness that robs people's wallets. Many people think that if they have insurance, they don't have to worry about the cost of treatment; however that is usually not the case. 

If you or someone in your family is diagnosed with cancer, chances are good that there will be out-of-pocket costs that may leave you scrambling for options. One thing you may wonder is whether or not you can sell your life insurance policy. Read on to find out more about the cost of cancer and how you can survive financially.

No one wants to wind up in the position where they have to end their cancer treatments because they are unable to pay for the things they need. Obviously, skipping treatment or not receiving it at all will lead to further deterioration of your health. 

To avoid this, it's crucial to enter into your cancer treatment with a plan. Talk with your insurance company to see what is covered. Ask them specific questions about co-pays and out of pocket costs for trips to the doctor, lab tests, procedures, drugs, surgery, hospital stays, and home care.

Although it may seem absurd to have to think about the financial aspect of cancer treatments, there's no way around the fact that these things cost money. Don't hesitate to talk to your team of doctors about your financial concerns -- often, they can work with you to find options that may be more affordable. Further, some insurance companies only allow you to work with specialists that are in your "network," so it's important to bring these types concerns up with your healthcare team.  

Regardless of the financial costs of cancer, it's important to not stop treatment. If you are unsure about how you are going to afford the growing medical costs, rest assured that you do have options. And if you are asking yourself "can I sell my life insurance policy?" the answer is a definite "yes." 

This is actually a great option if you are looking for funds to pay off your medical bills. It's also a great way to manage your regular living expenses (mortgage, car payments, groceries) while you are undergoing treatments and possibly unable to work. It's important to explore the many choices that are available so that you can continue your cancer treatment plan.

Cancer is an expensive illness that can take a lot from families. Go into your treatment with a plan so you know what to expect medically, emotionally, and financially. Don't let the stress of financial problems ever deter you from seeking or continuing treatment!

Methods for Financial Freedom During an Illness

It is often difficult to deal with an illness when one needs to work a minimum of five days per week on average in order to make enough money to live.  When it is of a serious nature, and is not a quick fix, it can be downright stressful having to meet one's bills without a regular income.  However, there are several methods to consider when it comes to having the financial means for paying for medical bills and dealing with severe illnesses.  Take a look below to proactively face these issues.

-          Start a Fund for Medical Issues

We all know it is a wise course of action to save for different occasions, such as an emergency to one's home, a vehicle breaking down, and having a savings account in general.  What about medical emergencies and severe illnesses? Planning ahead for potential costly illnesses could really help you out in the long run.  Start a separate fund for dealing with any issues that come up, whether it's a week in the hospital or a long-term serious illness.

-          Consider a Viatical Settlement

Are you aware that you have the ability to sell your life insurance policy for a cash payout? It's true, and many individuals who are facing long-term, serious illnesses with the prospect of many missed work days have been able to get cash from it.  You end up getting a percentage based on the overall value of the insurance policy, and that lump sum can be used to help pay for various expenses.  A viatical settlement is a great opportunity to look into if you really need cash. 

Take the time to research your options and to plan ahead; these are just several ways to take a step in proactively addressing medical issues.  Start researching viatical settlements today!

Financial Options for Cancer Patients

In a society where cancer is the number one medical issue, having enough financial means to treat it can often be a problem.  It is a repetitive cycle, meaning if you are sick and need treatment, one generally has to take time off of work; but when time is taken off of work, there is a lack of financial means to deal with the condition.  Fortunately there is an answer called a viatical settlement.

A viatical settlement is based on an individual facing a serious illness, whereas they sell their life insurance policy for a cash lump sum through the transferal of ownership.  The final payout is often a percentage of the total face value of the policy.  This makes it much more affordable to treat the illness, especially if there will be plenty of work missed.  The seller is able to access their own life insurance policy and turn it into a cash payout when they need it the most; in this sense, a viatical settlement can be one of the most valuable ways to gain finances during difficult times.

While still a relatively new concept in some regards, the viatical settlement was first introduced in the mid 1980's, when the AIDS epidemic was a very significant issue for millions of individuals.  With nowhere else to turn to, those who suffered from AIDS finally had the ability to gain some form of financial means through these viatical settlements.  Fast-forward to today, where these settlements have expanded to include an expanded range of serious illnesses.  By selling the life insurance policy for a cash payout, one can gain the means to relieve their financial issues and continue dealing with their medical issues. Financial help for cancer patients is as simple as selling one's life insurance policy; don't wait another second to look into a viatical settlement!