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Financial Help For Cancer Patients

life insurance settlements for cancer treatmentMost of us purchase health insurance for the security it provides. We assume that if we get sick our insurance will take care of us. However, with an aggressive disease like cancer, sometimes we don’t realize how extensive the fight can be. Even if health insurance covers 100% of medical bills, there are many hidden costs associated with fighting this disease.  Thankfully, there may be some options available to help cover expenses that many people might not be aware of.

Costs of Cancer Treatment

If you’ve ever seen someone undergoing cancer treatment who tried to continue working full time, you have likely seen a person who is exhausted, physically and mentally. Probably the best plan would be to stay at home to rest and recover, but if there are bills to pay, many people can’t afford to not work. The added costs of transportation to and from treatment plus anything above and beyond health insurance coverage can really strain a family fighting cancer. Even in recovery, cancer survivors may have had to give up a job or may find themselves with extensive medical bills.

Life Insurance Settlements

Many people might not know that using your life insurance to get financial assistance is a way to access cash during treatment and recovery. This might be a good option if your situation has changed since you originally purchased life insurance. Perhaps your dependents are grown and aren’t in need of an inheritance. Maybe you have more than one life insurance policy and don’t need both. Getting a lump sum settlement from your life insurance policy might be a way to make the best of your situation while you are fighting cancer and could help you avoid a financial crisis.

Taking a settlement for your life insurance policy is not something anyone should do without much thought and research. There are organizations that offer education and counseling for cancer patients, and taking advantage of these services is highly recommended for anyone who finds themselves in need of financial help during or after cancer treatment.

Image: Freedigitalphotos.net/phasinphoto

About Kim Parr

Kim Parr is a private practice optometrist, freelance writer, and personal financial blogger. You can follow her journey to 20/20 financial vision at Eyes on the Dollar.

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