Cancer is an expensive illness, and according to NBC News, it is only getting more expensive as time goes on; with drug costs higher in 2016 than ever before. It is often a challenge to keep up with the additional costs you or a loved one may experience after being diagnosed with cancer. Many people facing late stage cancer put off needed life extending treatment due to the expenses involved with aggressive treatment. We at Abacus Settlements understand the need for financial help related to cancer. According to Mayo Clinic, an uninsured cancer patient will spend more than $100,000 annually on treatment. Not even insureds are safe, with an estimated $25,000 to $30,000 in out of pocket expenses. On top of that, studies have shown that bankruptcy rates are nearly double among cancer patients one year after diagnosis than they are for the general population.
Often, people facing Cancer can’t afford the premiums on their life insurance policy due to medical costs and loss of income. A Lapse or surrender of a valuable life insurance policy at this important time can be devastating. Many people are unaware that there are alternatives to lapsing a policy for people facing a life threatening illness.
Life Settlements for Cancer Patients
A Life Settlement may be an unexpected solution that can help financially in this time of need. Most people aren’t aware that their Life Insurance policy can be worth a lot of money while the insured is still alive. Premium Payments on a life insurance policy can be expensive. If the policy is lapsed or surrendered by giving the policy back to the Insurance Carrier you will likely receive no death benefit and lose all the premiums paid into the policy. A Life Settlement can provide needed funds for someone facing late stages cancer and relieve the added financial stress of expensive premium payments. It is very easy to find out if you qualify and how much you or your loved one may receive. There is no cost and no obligation to accept the funding if an offer is given.
Life Settlements may financially help patients with many different types of cancer including; Liver Cancer, Brain Cancer, Ovarian Cancer, Pancreatic Cancer, Cervical Cancer, Mesothelioma, Prostate Cancer, Ovarian Cancer, Asbestos Cancer, Bone Cancer, Blood Cancer, Leukemia, and Colon Cancer.
Here are the steps. (Abacus is here to help you through the process)
- Use the Qualify Your Case button to get started
- One of our Life Settlement Counselors will help you through the process.
- If it looks like you qualify, you will be provided with a no obligation application form. This form will help us gather the proper medical and life insurance information.
- Once we have completed the underwriting process you will be provided with an offer amount (If Applicable). There is no obligation to take the offer.
- At this time you and your family can decide if a Life Settlement is the right option for you.
A Life Settlement can be a great financial option for people facing cancer. There are other financial resources for cancer patients. We have compiled a list of other forms of Financial Help for cancer patients that may help.
Financial Help for Cancer Patients:
Partnership for Prescription Assistance (PPA) 888-4-PPA-NOW (888-477-2669) www.pparx.org
CancerCare Co-Payment Assistance Foundation 866-55-COPAY www.cancercarecopay.org
Chronic Disease Fund 877-968-7233 www.cdfund.org
HealthWell Foundation 800-675-8416 www.healthwellfoundation.org
The Leukemia & Lymphoma Society’s Co-Pay Assistance Program 877-557-2672 www.lls.org/copay
National Organization for Rare Disorders 800-999-6673 (Voice mail only) 203-744-0100 www.rarediseases.org
Patient Access Network Foundation 866-316-7263 www.panfoundation.org
Patient Advocate Foundation Co-Pay Relief Program 866-512-3861 www.copays.org
Patient Services Incorporated 800-366-7741 www.patientservicesinc.org