Cancer Treatment: Balancing Quality Care with Costs

We live in a time where we can access top-notch healthcare, with the best treatments, that help us overcome the challenges of what ails us. However, with that care comes a high cost which makes it very difficult for most to afford the care we deserve and desperately need. This type of situation is all too familiar to cancer patients and many are running out of options to fund these growing costs. When cancer patients have access to quality care that can extend their survival and lessen their pain, who wouldn’t take that option? The unfortunate answer is simple: Those who cannot afford such care. However, there are options and helpfor cancer patients to be able to afford such great care.

According to a recent report published by the American Association of Cancer Research, Americans have an increased chance of survival as well as better quality of life after a cancer diagnosis than ever before due to advancing medical science. While this bears good news, if people are living longer with a life-threatening illness, they will likely need as much financial assistance as possible to cover their expenses. In order to manage these expenses, cancer patients can opt for viatical settlements to live life more comfortably.

No longer would you have to put your quality of life at risk or place financial burdens on your family members to cover the costs of care. A viatical settlement can be your option that keeps a roof over your head and gives you peace-of-mind at the same time. While your current health insurance may only cover nominal portions of your expensive cancer treatments, you are left to foot the rest of the bill. This can cause major stress and frustration. Choosing to take advantage of a viatical settlement can take care of those extra costs. Those funds can even be used to cover things like your mortgage, utility bills and other daily living expenses.

A viatical settlement serves the purpose of turning an existing life insurance policy into cash you can use now. To qualify, a person must have a life-limiting illness diagnosis like cancer and an existing life insurance policy. The policy can turn into cash now, as the seller receives a lump sum payment which is a percentage of the face value of the policy. In order for you to get the financial assistance you need, look into viatical settlements because you deserve the best care, no matter the cost!

Lee Berman Talks Viatical Settlements with Julie Moran on The Balancing Act®

Lee Berman on The Balancing Act® airing on Lifetime Television®
explains what viatical settlements are.

Lee Berman made a guest appearance on The Balancing Act® airing on Lifetime Television® where he sat down with show host Julie Moran to go over some information about viatical settlements. Berman is the Director of Marketing and Vice President of Policy Services at Asset Funding Corporation and he answered some questions about viatical settlements. In case you missed it, check out this recap:

Why are so many people in the population not prepared and/or not equipped to handle the financial burdens that accompany life threatening illnesses?

I think that there are two reasons for that, number one is that no one can really be prepared and can expect to be diagnosed with something like cancer, Lou Gehrig’s Disease, so there’s no way to prepare for that financially. The second thing is I think people just don’t realize when you have this type of diagnosis and you’re going through treatment, financially, you’re not going to be in the same place as you were before. For many people they have to miss significant time from work, the income doesn’t come in anymore, but they still are required to make their house payment, their car payment, put food on the table.

What are viatical settlements?

A viatical settlement is basically the sale of an existing life insurance policy from the policy owner to a third party for cash. Every case payout is less than the death benefit but more than the cash surrendered value of the policy.

What is Asset Funding Corp. doing to make viatical settlements a viable option for those with life insurance policies who are dealing with life threatening illnesses?

For over ten years, we have been working with people who’ve been either diagnosed with this type of illness, or their family members, caregivers, or their financial advisers to make a viatical settlement an option for them. And what we do is either directly or through our website, we provide the tools to do an evaluation of the policy, look at things like their premiums, the history, rules of the policies, as well as their medical conditions. By gathering all this information, we can give them options, we can educate them about the options in their policy, they might have options they’re not aware of, and one of those options very well could be that Asset Funding Corporation can make them an offer to actually buy the policy from them and get them that much needed cash.

Do all life insurance policy holders qualify? How does that work?

In order to qualify for a viatical settlement, you do have to be diagnosed with one of these illnesses we’re talking about, like cancer, Lou Gehrig’s, something fatal, heart disease, AIDS. A perfectly healthy person in their 40s or 50s would not qualify.

What should be the primary reasons for considering this type of option?

For most people in this situation, the financial stress that they are going through is the most important thing and what we strive to do is get them the cash they need to relieve that financial stress, put the cash in their pockets to help them pay for, again, all these day to day expenses that they’re dealing with.

Are there common misconceptions regarding this financial tool?

Yes, there are a number of misconceptions in what we do. The first is that most people think that you have to have been given a terminal diagnosis in order to qualify and that’s just not true. You can have a longer life expectancy than less than one or two years to qualify for a viatical settlement. The second is that most people think you need a permanent or whole life insurance policy in order to sell a policy; in fact, the majority of the policies we buy are term policies or group policies, a group policy being one through your job.

As the use of viatical settlements has increased over time, how has the approach evolved?

Well the viatical settlement industry really started in the late 70s and early 80s when the HIV and the AIDS epidemic started in our country. And at the time, people were looking for additional money to pay for treatments that weren’t covered by their health insurance. And selling a life insurance policy became a good option for them but over the years, the industry has expanded into illnesses such as cancer or heart disease and kidney failure.

What advice would you give people who are considering this?

The most important thing is to get educated, not only on your current financial situation and the assets you might have, but also what your options are. What we offer at Asset Funding Corporation is a complete evaluation of the life insurance policy to let them know what all of their options are with the policy, including if they have the option to sell the policy. And at that point, they can make an educated decision and do what’s in their best interest and the best interest of their family.

If you would like to learn more about viatical settlements, please call 800-542-9513 for more information.

Asset Funding Corp’s Vice President of Policy Services Appearing on The Balancing Act® airing on Lifetime Television® in September

Asset Funding Corp’s very own Lee Berman will be a special guest on Lifetime Television this September! Berman is the Director of Marketing and the Vice President of Policy Services at Asset Funding Corp. He is a seasoned veteran of the viatical and life settlement industry and will be sharing his thoughts to millions of television viewers on The Balancing Act® airing on Lifetime Television®.

Berman is making a guest appearance on this nationally televised show on September 19, re-airing on September 26. The Balancing Act® airing on Lifetime Television® is an hour-long morning show that starts at 7 a.m. (EST) on weekdays. This exciting appearance will broaden the scope of financial opportunities available to people who suffer from life-limiting illnesses. The Balancing Act® show host, Julie Moran, will be sitting alongside Berman discussing the benefits of cashing in life insurance policies in the time of need.

The TV show was originally designed for women, focusing on issues that are entertaining, educational and newsworthy. It serves as the only hour-long morning TV show specifically for women and catering to subjects that matter the most to them. Many of their segments feature trending topics that women encounter on a daily basis and also serve to inform every viewer of things that can improve their day.

Berman will educate viewers on the issues people encounter when dealing with illness like the costs associated with health conditions, the way it affects family members and the financial struggles that come about from everyday expenses. This episode is something you don’t want to miss so make sure you tune in on September 19 and 26!

Want to see a sneak peak of the show? Watch this video for a chance to see the show host, Moran, announce Berman as the special guest! 

Can I Sell My Life Insurance Policy? The Surprising Answer

When you bought life insurance, chances are good that you expected it to be many long years before your policy became relevant. Most people buy life insurance when they are healthy and have little expectation of dying. The payout of the policy then becomes a "dormant" asset, a chunk of money that may eventually be accessible to your family, and which you are paying for every month, but which you cannot do anything with. For most people, this is not an issue and it's something they don't think about—you'd probably never wonder whether it's possible to sell your policy.

However, if you find out you have a life-threatening illness, you may suddenly view your life insurance very differently. Suddenly, insurance money that no one can touch until after you are gone may not seem like such a reassuring thought. With major terminal illnesses come medical bills, often massive ones that could put you and your family deep in debt. During these times, you may also be asked to make difficult decisions—potentially even denied treatment that you cannot pay for. These costs can dwarf the funeral expenses and other costs you expected your life insurance to pay for.

It's at this time that people begin to seriously ask "can I sell my life insurance policy?"

Many people are surprised to find that the answer is yes. There are specialized insurance trading companies that can purchase a life insurance policy from you. This is not the same thing as canceling a policy or asking for an early payout; instead, it is known as a viatical settlement.

When you sell your insurance policy, you will be paid a lump sum equal to a fixed portion of the eventual policy value. This money is yours immediately to use as you see fit: it can help offset medical bills, or it can help you transform the quality of your care and day-to-day life. It may even be used to achieve a longstanding life dream. There are no limits or restrictions on how you use the profit from your sale. The company that purchases your insurance policy will take over paying the premiums, and will become the policy beneficiary.

Obviously, this represents a trade-off. When you sell your policy your relatives will no longer receive money to help with expenses after you pass. On the other hand, if a life threatening illness has made expenses today much greater than expenses tomorrow, it's often worth it. Contact us at Asset Funding Corporation today and see if you qualify!

What is a Viatical Settlement?

If you own a life insurance policy, you have probably heard the term "viatical settlement" thrown around. Most people who take out life insurance will never need one, but for those few who do, it can be a tremendous benefit during one of the hardest times. So what is a viatical settlement and who might need one?

To understand viatical settlements, it's important to know how life insurance works. Normally, a life insurance policy is meant to help your relatives—frequently your spouse, partner and children. It is one of the only types of insurance that does not benefit the person taking out the policy, but rather those around them. With a life insurance policy, the policy is paid out upon your death, with the money often helping relatives pay for final expenses and compensate for the loss of your income. In most cases, this is when the money is needed most.

However, sometimes money is needed more in the years leading up to death than it is when the family is grieving. For example, imagine if you were diagnosed with an illness certain to take your life—perhaps a severe form of cancer. This news would not only be tragic, it would also herald a period of intense treatment options that are almost certainly going to exceed what is covered by your health insurance. That means that in the months or years after receiving such a diagnosis, possibly the final years of your life, you will need a lump sum of money more than ever.

It's during this extremely difficult time—when medical bills today outweigh final costs tomorrow—that many people choose a viatical settlement. With a viatical settlement, you essentially sell your life insurance to an outside party. This does not cancel the policy, but it does make two important changes:

• The buyer takes over the premium payments. You never pay another cent on the policy.
• The buy becomes the beneficiary.

In exchange, the buyer pays you cash up front, so that you have the money you need to pay for medical bills and to maintain a comfortable life during difficult years. 

Viatical settlements have existed for many years and are closely regulated by insurance laws. In most cases, only someone with a life-threatening illness can qualify for a viatical settlement. In those cases, it is a big decision, but often allows a person to dramatically improve life for themselves and their family. At Asset Funding Corporation, we want to help people live comfortably and manage their expenses. Don't wait to inquire about a viatical settlement! 

Medical Bills Piling Up? Get the Funds in Ways You Haven't Imagined

When medical bills start to pile up, the idea of paying them can seem like a daunting mountain to climb. If you’ve found yourself in some major medical debt due to a life-threatening illness, there may be more options than you recognize. Never fear! There may still be hope, regardless of how high that mountain is.

Crowd-Sourcing Websites

Crowd-sourcing websites have become a very popular way to fund projects for all sorts of things. Just a simple search of Kickstarter will yield results of some pretty varied things that people can invest in. In much the same way, crowd-sourcing websites with charitable purposes have sprouted up all over the Internet. Sites like The Chive Charities have had extraordinary success, not only meeting their goals, but also exceeding them by a lot.

Viatical Settlement

When you have a life insurance policy, you may not think of it very much. For most people, it’s the furthest thing from their mind, but if you have a life-threatening illness, it may be the one thing that can keep you from crippling debt. A viatical settlement allows a policyholder to sell off their insurance policy for a percentage of what the payout would be. The policyholder is then able to receive a lump sum and can use that to pay for their medical bills.

Grants

If you’re in need of money for medical treatments, it can be a good idea to reach out to local charities and non-profit organizations that may be able to help you. For example, if you have cancer, you may be able to receive a grant from the American Cancer Society in order to fund your procedures.

Charities

A lot of people may see taking charity as a sign of weakness, but if you’re in a desperate situation, there may be no better place to turn. Charity organizations are usually set up to help those with specific needs and even local churches may divert some of their funds to helping parish members in need. It doesn’t hurt to ask and a well-written letter can do wonders.

Finding a way to pay for your medical bills can be difficult, but there are definitely options to be found. You just need to know where to look.  

Strapped for Cash for Your Treatments? Get Help

If you have a life-threatening illness, the last few years can't have been easy for you. Even though the media is claiming that the economy is slowly bouncing back from the recession, many people aren't out of the woods yet -- and if you are suffering from a serious illness, you're probably one of them. If you've finally reached that place where you're not sure how you will pay for your next treatment or mortgage bill, don't despair! Here are a few ways that you can get the funding you need.

• Viatical Settlement – People with an active life insurance policy may have the option of selling it for cash so they can fund everything from their cancer treatments to their trips to the grocery store. The way that this settlement works is that the holder sells their policy to a third party in exchange for cash. The third party then becomes the new owner of the policy and takes over paying the monthly premiums. The great thing about this option is that people are able to get the much-needed cash in their hands quickly.

• Sell the Home – If a person owns a home, it may be time to find out how much equity they have in it. If they’ve been in the home for a decent amount of time, selling it at a fair price will probably bring a large amount of money their way. Real estate experts say that the homes that sell the quickest are the ones that are priced to move. Once the home is sold, it’s smart to move in with friends or family until everything is settled.

• Garage Sale – Yard sales are an effective way of earning money quick. Once people realize the severity of their financial situations, they are more willing to part with their personal possessions. They can also ask family members and friends if they have any items to donate to the sale so that it generates more of a profit. If enough people were willing to donate, the sale could be turned into a neighborhood-wide event. 

When people have life-threatening illnesses, they have to be willing to think outside of the box to make ends meet. Selling one's home, having a garage sale or opting for a viatical settlement are just some of the ways that people can ensure that they have the funds they need for care and day-to-day expenses. 

How to Get Extra Cash for Cancer Treatments

The cost of cancer treatments can put a huge burden on a patient and their family. Some people think that as long as they have health insurance coverage, that they won’t have any additional out-of-pocket costs. Unfortunately, this is often not the case and there are additional hidden costs that must be paid by the patient. Further, many patients undergoing treatment are unable to work and lose their income. Below are a few ways to obtain financial help with treatments, daily living expenses, and any else that is necessary.

• Viatical Settlement – Cancer patients may have the option of selling their life insurance policies for cash so that they can have money for anything that they need while working to treat the disease. This type of settlement was used a great deal during the height of the AIDS epidemic in the late 1980s and early 1990s. Through viatical settlements, people with AIDs were able to get money for their care when they had nowhere else to turn. In this type of settlement, the patient sells their policy to a third party for cash. The third party then becomes the new owner of the policy and takes over making the monthly payments.  

• Fundraise – The family and friends of the patient can hold a fundraiser to help pay for the overwhelming medical costs and living expenses. There are a variety of standard fundraisers that have proven successful, but it’s always best to personalize the event. If the cancer patient belonged to a bowling league or golf club, put together an event at that establishment. Bowl-a-thons and golf outings are great fundraising opportunities that would likely attract many donors. Remember to always plan an event that will be meaningful for the patient.

• Temporary Assistance for Needy Families (TANF) – This program is designed to aid families that require extra support, services, and money to achieve self-sufficiency. This organization may be able to provide temporary assistance for cancer patients for things like groceries and other household essentials. People diagnosed with cancer that are having a hard time keeping up with bills are encouraged to reach out to this organization.

There are several ways to get financial help for cancer patients. Whether through a viatical settlement or a bake sale, the money will help the patient afford both their care and normal expenses. 

What Illnesses Qualify For a Viatical Settlement?

While the idea of receiving a cash payout for your unneeded or unwanted life insurance policy can be appealing to many, not everyone is always eligible for the benefits of such a sale.  Since a viatical settlement is the process of where a person with a life-threatening illness can turn their existing policy into cash by transferring and selling the rights to another party, the question arises: what qualifies as a life-threatening illness?  While cases may vary, there are some basic illnesses that are generally considered.  Take a look below.

• Different forms of Cancer

Cancer is almost always considered a very serious illness. Whether you are diagnosed with breast cancer, liver cancer, lymphoma or prostate cancer, the treatment for these illnesses can cost heavily at times.  Facing the seemingly impossible obstacle of both being able to work and take time in order to treat the illness, those with cancer do have the option of seeking a viatical settlement.  Financial help can ease one's mind, help to eliminate stress and get you the medicine you need to fight the disease 

• HIV/AIDS

The viatical settlement movement first started in the 1980's during the AIDS epidemic.  The industry has branched out to offer buyouts for other severe illnesses as well, but HIV/AIDS is still a qualifying illness. AIDS is now the 5^th leading cause of death amongst individuals in the USA from ages 25 to 44.  The costs of medications to treat it range anywhere from $60 to as high as $15,000; a viatical settlement can be the key to getting the treatment that you need.

• Lou Gehrig’s Disease (ALS)

Amyotrophic lateral sclerosis is often called Lou Gehrig’s Disease is aggressive neurodegenerative disease that affects nerve cells in the spinal cord and brain. Those who suffer from the disease know there is no known cure or effective treatment besides medication that slows the progression which is costly. When considering the option for a viatical settlement, you could help fund research for more treatments or simply to reduce the stress of buying the medication you need.

Contact Asset Funding Corporation at (800)542-9513 to discuss the possibilities of selling your life insurance policy, and to answer any questions you may have.

Natural Foods that can Help Fight against Cancer

Since our bodies largely depend on the foods that we eat, it is important that we consume products that are beneficial.  When it comes to fighting off cancer or preventing it in the first place, there are specific items that could be considered "superfoods" in the fight against cancer.  Take a look at this intriguing list below:

•          Garlic

Garlic contains tryptophan, selenium and certain sulfur-based active agents that will attack cancer cells.  Consider taking several cloves of garlic a day; peel and wash a clove and mince it.  Swallow the minced pieces with water, much like taking a pill, and you will be doing your body a significant service.

•          Broccoli

Dark, leafy green vegetables in general help to eliminate toxins in the body.  Broccoli itself contains something called sulphorophane, which helps to fight against cancerous stomach tumors.  Cruciferous vegetables such as broccoli also contain indoles, which aid in fighting off cancers of the breast, prostate and so forth.

•          Brazilian Nuts

These types of nuts contain selenium, which is very potent in fighting against cancer.  You only need to eat a handful a day to get your daily dose, so consider these for your next grocery trip.

•           Carrots

Containing beta-carotine, which is a cancer carotenoid, carrots should be a daily part of your diet.  In fact, carrots and apples juiced make the perfect drink to fight against cancer, as well as promote a healthy body.

•           Tomatoes

Tomatoes contain lycopene, which is an active ingredient in fighting off cancer cells.  It has been recorded as being very influential in the fight against colon, lung, cervix and breast cancer.  Eat several helpings a week at least for the full effect.

Ultimately, when dealing with a serious long-term illness, there may come a point where time is needed from work in order to treat and work on the situation.  During that time period, it is important to consider your financial situation.  If you find yourself in need of cash, and are looking into financial help for cancer patients, consider a viatical settlement for a cash payout.  It could make the difference for your life financially, and help you when you need it most.  

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!

How Viatical Settlements can Help People with Life-threatening Illnesses

When most people imagine dealing with a life-threatening illness, they think of quiet time with family, peaceful settings, or maybe even jumping out of airplanes. What they don't want to think about is the possibility that they might be living poorly, unable to cover medical expenses or secure funding to set their affairs in order.

This scenario is something that no one wants to face and, thankfully, many don't have to. Viatical Settlements are becoming an increasingly common way to ensure the best care, the most exciting experiences, and the easy payment of common expenses.

What is a Viatical Settlement?

A Viatical Settlement is a way for those who have life-limiting illnesses to sell their life insurance policies for more than the cash surrender value, but less than the face value of the policy, the proceeds of which they would receive as a lump sum. There are many policy types that qualify, including Term, Universal, Whole Life Policies, and others, and the amount that one receives from the settlement is determined by the person's specific policy and situation.

Why Should I get a Viatical Settlement?

There are several reasons that people might want to get one of these settlements. For people who are in dire circumstances and can't afford the expense of treating a life-threatening illness or even the general cost of living, having access to funds can be the difference between comfort and pain during this critical time. Some people realize that they no longer need the coverage that they have or, because of their life circumstances, are unable to afford premiums any longer. For these people, getting the maximum benefit out of their policies can help them to live out their lives well.

How Can I Use my Settlement?

Once the policy has been sold and the money received, people can use the funds in whatever way that they want or need to. Whether they are looking for quality healthcare that they might not be able to otherwise afford, the trip of a lifetime accompanied by the most important people in their lives, or just trying to manage every day expenses, they can use the money to achieve their goals.

No one wants to struggle or suffer when they are already facing a difficult illness. Rather than forgoing the things that they want or doing without the care that they need, people should check out Viatical Settlements to see if they are the right choice for their unique circumstances.