5 Options for Finding Financial Help for Cancer Patients’ Treatment

Unfortunately, a third of cancer patients go into debt for their treatment, and 3 percent have to file bankruptcy. If you’re having trouble finding help for cancer patients’ treatment and dealing with expensive medical bills, you may need some financial help for cancer patients’ treatment. In particular, you may want to consider one or more of the following options.

Grants

There are many organizations that offer grants to patients with cancer. Some are targeted towards specific types of cancer, and others are more general.  The amount you may receive will vary, but the best part about grants is that you don’t have to pay the money bank.

Community Fundraisers

Many communities will hold fundraising opportunities for affected individuals in their community. Try reaching out to your local city authority to see if they can help, or know of any local organizations who provide financial help for cancer patients’ treatment.

Viatical Loans

Viatical loans are similar to viatical settlements, only viatical loans are cash advancements that incur high interest rates and additional fees, making it difficult to pay the loan back. Rather than gaining income from your policy you actually incur more debt. Financial advisors caution against this option because viatical loans give a false sense of hope because in hindsight they create more stress and financial hardship.

Viatical Settlement

Are you wondering about the benefits of doing a viatical settlement? Here are some key reasons many patients choose this option:

• Viatical settlements don’t include interest or hidden fees. They aren’t a loan, so you don’t have to pay the money back and the quote you receive from American Life Fund is the amount you will receive.
• Many times you can get more money through a viatical settlement than with other options. We don’t work with a middleman and this ensures you get the largest payout possible.
• Any existing life insurance policy is eligible for a viatical settlement whereas with living benefits and viatical loans, your life insurance policy may not qualify.
• The process of getting a viatical settlement through American Life Fund can go as fast as 1-2 weeks while other options can take months.
• With a viatical settlement you don’t have to pay taxes on the amount you receive. This peace of mind means that 100% of what you receive can provide financial help for cancer patients’ treatment.

Who Should Apply?

If you’re trying to decide whether you should apply for a viatical settlement, there are numerous elements you should consider. First, you need to already have a life insurance policy. Then, if you meet any of the following criteria, you should also consider applying:

• You need help paying for medical bills
• You want to pay off high interest loans
• You can’t work and need help with bills
• You are stressed out about your financial situation
• You want to relax and spend time with family

If you need financial help for cancer patients’ treatment, we can help. To learn more about living benefits and viatical settlements, contact us at American Life Fund today. We help late stage and terminal cancer patients find the financial freedom they need.

Cancer of the esophagus affects approximately 17,290 people in the United States, and it causes 15,850 deaths per year.

Dealing with this type of cancer can be physically, emotionally, and financially painful. If you are dealing with a lot of financial stress, you may want to explore ways of finding money for cancer patients.

Understanding Risk Factors for Esophageal Cancer

This type of cancer is about four times more prevalent in men than women and that’s because it’s linked to excessive alcohol use and smoking, which men tend to do more often than women. Although it makes up only about 1% of all cancer cases in the United States, it’s more common in other parts of the world.

Treating Cancer of the Esophagus

When the cancer is detected early, doctors typically recommend local treatments. This includes surgery or radiation to treat the site of the cancer. As the issue evolves, your health care team may advise systemic treatments. That includes chemotherapy and immunotherapy as well as other methods that attempt to address the systemic spread of cancer throughout the body. Eventually, you may need palliative therapy. This doesn’t stop the cancer. Instead, it keeps you comfortable as the cancer progresses.

Paying for Cancer Treatment

Unfortunately, paying for treatment for your esophageal cancer can be difficult. But, as indicated above, there are ways to get money for cancer patients to help offset your out-of-pocket costs.

According to the American Cancer Society, the country spends a total of $80 billion on cancer treatment costs annually.

To obtain money for cancer patients, many people simply keep working. In fact, of the 15 million cancer patients and survivors in the country, approximately half are still working. Some are working to defray their financial burdens, but others choose to work to maintain their sense of independence.

For many cancer patients, they don’t always have the choice to continue to work or not. Esophageal cancer, in particular, is extremely invasive, and it often makes it impossible to work. If you’re in that situation, you may want to look for other resources that provide money for cancer patients so that you can focus on your treatment plan.

Using Viatical Settlements for People with Esophageal Cancer

A viatical settlement is designed to help people with late stage cancer who are struggling with medical bills or who simply need money for other expenses. This type of settlement allows you to cash out the funds from your pre-existing life insurance policy early. Then, you can use this money to help pay for your treatment, medications, transportation, or even your current expenses such as rent or a mortgage, car insurance, or groceries. Some patients even choose to take a vacation and spend time with family or friends.

If you’re suffering from esophageal cancer, let us help. At American Life Fund, we provide money for cancer patients in the form of viatical settlements. To learn more, contact us today.

Viatical insurance, also known as a viatical settlement, offers you a way to cash out your life insurance policy now instead of later. For cancer patients, this transaction can be an essential way to cover expensive medical bills. However, there are numerous other ways that you can use the funds from viatical insurance as well. In particular, you may want to consider the following:

Supplement Your Income

When you’re ill, working can be impossible, but if you’re like most people, you probably still have bills to pay. Viatical insurance can help to cover your income and alleviate some of your financial stress. If you’re still working, you may even want to take out a settlement so that you can retire from your job and focus on your recovery.

Pay for Home Care

Going back and forth between your home and the hospital or medical clinic can be time-consuming and exhausting. To avoid this, you may want to use some viatical insurance proceeds to pay for home care. There are medical professionals who can come to your home to assist you, or you may even want to treat yourself to a house cleaner, a cook, a nanny to help with the children, or other in-home services. They can help to make you more comfortable and alleviate some of the burden that is on you.

Pay Off Existing Debt

In that same vein, if you have a lot of existing debt, you may want to use the viatical insurance funds to pay it off. For instance, if you owe money on your home, and you want to leave it to your children, you may want to use the funds to pay off the remainder of your mortgage. Similarly, if you don’t want to leave your family with credit card debt, you may want to use the funds to pay off those bills.

Pay for Your Children to Take a Leave of Absence

When you have cancer, you probably want to spend as much time as possible with your friends or family, but if they have to work, that’s not usually so feasible. To allow your family members to take a break and spend time with you, you may want to use your viatical insurance money to cover some of their wages. Then, they will be able to quit or take a leave of absence to spend quality time with you.

Take a Vacation

Regardless of how you decide to use your viatical settlement, its role is to make your life easier. So why not use the funds to enjoy yourself?  Consider going on a vacation with family or renting somewhere local to have a ‘staycation’ with your loved ones. You and your family will create irreplaceable, lifelong memories.

To learn more about viatical insurance and to find out if it’s right for you, contact us at American Life Fund today. You can call us directly at 877-297-4592, or fill out our online form to receive more information about your viatical insurance options.

Although a viatical settlement is one of the lesser known forms of financial aid for cancer patients available, it is often the ideal solution when the financial need is great and the alternative options are few. Unfortunately, a diagnosis of cancer often comes with a hefty tab for treatments and other related expenses, and leaves many patients and their families drowning in debt.

Unfortunately, many cancer patients typically find that most cancer financial programs offer minimal funds, whereas a viatical settlement provides funding on a much larger scale. Although a “viatical settlement” may sound like something new, viatical settlements actually date back to the 1980’s during the AIDS epidemic when AIDS patients were able to liquidate their life insurance policies so that they could afford advanced life-saving medical treatments. This offered them a chance at life they would not have otherwise had. Since then, millions of Americans have relied on a viatical settlement as a trusted means of financial aid for cancer patients.

Viatical settlements are now more common for cancer patients as the cost of treatments have risen significantly over the past several years, leaving many patients with no other option but to forfeit treatments.

Although a viatical settlement is traditionally used to pay for costly medical treatments, the spending options are endless as the funds are non-regulated, meaning they can be used for anything. Many patients choose to use their viatical settlement for related expenses such as medication, transportation, or home care. Still others prefer to use their funds to cover household expenses such as electricity, rent or mortgage payments, or to pay off a vehicle loan.

At American Life Fund we hear countless stories of how viatical settlements not only provide an opportunity for life-saving treatments, but also transform countless lives everyday by allowing patients and families the ability to regain a sense of dignity and normalcy again. Our unique form of financial aid for cancer patients allows individuals and families the ability to pay for everyday living expenses, take luxurious vacations with dear loved ones, and even pay off outstanding debt. Our clients see their life insurance as a tangible asset and find it more valuable to sell their life insurance policy than keep it, because selling their life insurance policy for cash now, lets them enjoy a better quality of life.

Who Qualifies for a Viatical Settlement?

Although American Life Fund specializes in helping cancer patients, a viatical settlement is not limited to financial aid for cancer patients. Individuals without cancer may also qualify for a viatical settlement. Below is a list of qualifications for a viatical settlement.

1.    A life insurance policy of $100,000 or more.

• Term, whole life, universal life, group, or FEGLI life insurance policy
• The policy must be out of the contestability (issued at least 2 years ago)

2.    A life-threatening illness (late stage cancers, ALS, Alzheimer’s, etc.) or healthy and over the age of 80 years old.

If you are still unsure whether you qualify for a viatical settlement, contact us today. Our dedicated staff is happy to answer any additional questions you may have and to guide you through the process.

Financial assistance for cancer patients is hard to find, and nearly everyone today knows someone that has been affected by cancer. In the United States, 1 in 3 people will be diagnosed with cancer. The term “cancer” typically ignites feelings of fear, despair, and stress. With cancer care costs doubling and tripling, it is easy to understand why a third of cancer patients go into debt. However, you do not have to become a part of this statistic. With an abundance of financial assistance for cancer patients available, there is hope.

Knowing where to find help can seem overwhelming which is why we have designed an easy list of tips you can use to remain debt–free while becoming cancer-free. Our simple list of tips is designed to help you not only become educated on options available to you, but allows you to maximize your resources, saving you time and energy. This enables you to focus on what matters most. We know that when it comes to finances one size does not fit all, as individual needs vary. Therefore, we have compiled a list of both little and big ways that you can begin to tackle your debts one dollar at a time, through resources providing financial assistance for cancer patients.

1. Receive a Large Sum of Cash Through Your Life Insurance Policy With a Viatical Settlement

In most cases, the financial funding cancer patients need is very large. According to Duke University Medical Center, a third of insured people with cancer end up paying more out-of-pocket than they expected, despite having health coverage. With cancer drug costs doubling in the last decade, more and more patients are forced to put off receiving lifesaving treatments they need due to the rise in treatment costs. In cases like these, selling your life insurance policy for cash through a viatical settlement is ideal.

In some cases, individuals can receive 70% of their life insurance policy in little as 2 weeks!

The best part of all is the funds are tax-free and non-regulated, so you can spend the funds as you please. This gives you the opportunity to not only pay for medical expenses, but to also cover the cost of living expenses, or even luxurious vacations with precious loved ones.

2. Cancer Financial Grants

There are a multitude of organizations that offer free money to cancer patients. This type of financial assistance for cancer patients is also known as a cancer financial grant. While some grants are generalized and open to all cancer types, others are specific to certain types of cancers. The best place to search for financial grants is with local non-profit organizations or online. When searching online try searching for “cancer financial grants” or searching for grants specific to a certain type of cancer, such as “lung cancer financial grants.” Organizations offer funds for various amounts and best of all, the money is free.

The Colorectal Cancer Alliance offers financial assistance for cancer patients through a one-time financial stipend for up to $300 and The Breast Cancer Charities of America offers grants for up to $1,000, accepting applications monthly from the 1^st of the month to the 5^th of the month.

Although it can be time-consuming to locate grants the time invested typically pays for itself. The most challenging part of the financial grants is locating an organization that still has funding available as typically the need can exceed the available funding. Therefore, being persistent is key!

3. Utility Assistance

Although your utility bill may seem small, when you are juggling finances to pay for cancer care, every little helps, so financial assistance for cancer patients in the form of utility assistance is just one way you can find financial relief. Programs such as the LIHEAP (Low Income Energy Assistance Program) offers utility assistance to those of low-income households, as well as those experiencing crises. You can also call “211” to locate additional utility assistance programs for cancer patients in need.

4. Prescription Assistance

With the cost of cancer medications rising, you may find yourself forced to skip treatments. However, programs such as PPA (Partnerships for Prescription Assistance) can help. Their free, easy to use online website allows you to receive a list of multiple prescription assistance programs that you may qualify for. Another resource, Needy Meds, offers financial assistance for cancer patients in the form of a free Drug Discount Card that allows savings of up to 80%.

5. Gift Certificates and Gas Cards

As trips to cancer treatment centers increase, so will the need for gas. Therefore, seeking funds in the form of a gas gift card is a wise way to keep your financial spending down. Organizations such as The Pink Fund and Tenaciously Teal offer gift cards for cancer patients.

6. Fundraising

Sometimes the quickest, easiest form of financial assistance for cancer patients is fundraising. With a little upfront investment of your time and a good social network, fundraising can be an effective tool for financial funds. Online fundraising platforms such as GoFundMe allow you to post a need and share your need with others. However, it is important to keep in mind that you only receive a portion of funds raised. A second method of fundraising worth considering is one in which you, friends, and family offer something to the community such as a bake sale or car wash to raise funds. The Patient Advocate Foundation offers many fundraising ideas.

To learn more about our financial program for cancer patients, contact us at American Life Fund today!

Discussing finances with your partner or family is difficult as it is. Throw a cancer diagnosis into the mix, and it becomes an even more daunting task. With the help of the compassionate and dedicated counselors at American Life Fund, talking about financial assistance options doesn’t have to be scary. Discovering what resources are available and then talking them over with your loved one is the best way to determine what choice works best for your unique situation. Follow this simple three-step process to help your loved one gain financial freedom.

Evaluate the Type and Amount of Cancer Financial Assistance Needed

Determining a range of the amount of financial assistance needed will help you narrow down the right resource. Here’s how to generate this number:

• Sit down your loved one and go through their all their expenses together to determine where the gaps are. Be sure to include everything from cancer-related costs, to typical expenses such as car insurance, groceries, and cell phone bills.
• Write down each expense type i.e. medication costs, credit card bills, mortgage payments, etc., and how much each item is per month. Then note if it’s an ongoing cost or one-time cost.
• Add up the item costs. Now take your available income and deduct this number from it. The difference between your income and expenses is the amount of cancer financial assistance you need to seek out.

Research the Cancer Financial Assistance Options Available to You

Now that you know how much financial assistance you need, finding the right resource for your loved one is key. If you have a pre-existing life insurance policy, a viatical settlement may be the right option for you. This is especially true if you need a large amount of financial assistance. Many patients are able to get thousands of dollars from this liquid asset.

If you don’t have a life insurance policy, nonprofit cancer organizations are your next best bet. They have a range of financial resources to help with anything from medication costs to transportation expenses and more. Many of these organizations have helplines you can call to speak with a patient navigator that can guide you through these cancer financial assistance options.

Come Up with a Game Plan

When putting together a list of nonprofit cancer organizations to reach out to, make sure to include national and local organizations as well as cancer-specific and general cancer nonprofits such as the American Cancer Society. As you contact each organization, make sure you take notes on the types of cancer financial assistance resources they offer and get instructions on how to access these.

Once you and your loved one have selected the right resource for your unique situation, it’s time to come up with a plan of action. If you want to find out how much your life insurance policy is worth, complete our simple, online form or call 877-684-5770 to speak with a caring and dedicated counselor about your needs.

What exactly is bile duct cancer? Good question!

There are organizations that help cancer patients financially, even with unusual conditions. According to The Cholangiocarcinoma Foundation,  Cholangiocarcinoma (bile duct) cancer is a rare form of cancer that originates from the cells lining the bile duct. Now more than ever, patients recently diagnosed with this rare cancer are seeking organizations that help cancer patients financially and treatment education. Due to the rising global incidence and mortality rate, combined with a scarcity of information, there is a critical need to develop immediate and sustainable participation of the medical and research communities.

Most of us don’t know where the gallbladder is located in the body or its functionality. The gallbladder is a pear shaped organ, approximately 4 inches long, that is located just below the liver in the upper right side of the abdomen. Its function is to store the bile that the liver produces. Bile aids digestion by breaking down proteins and fats.

According to The Cholangiocarcinoma Foundation, about 6,000 people in the United States develop bile duct cancer each year. Almost 2 out of 3 people with bile duct cancer are 65 years or older when diagnosed.

The average age of people diagnosed with cancer of the intrahepathic bile ducts is 70 years old. The average age of people diagnosed with cancer of the extrahepatic bile duct is 73 years old. Despite affecting a wide majority of individuals who are elderly, the disease can be prevented by treating hepatitis infections, avoiding certain chemicals and regular doctor visits. The Cholangiocarcinoma Foundation, The Joe Garassino Foundation and The Jennifer Ferraro Foundation are among many organizations that help cancer patients financially and provide cancer support resources.

The Cholangiocarcinoma Foundation (CCD)’s mission is to find a cure and improve the quality of life for those affected by bile duct cancer. Founded in 2006 by a family member who lost a loved one to bile duct cancer, CCF has grown to become a major resource in research, education and public awareness. Using a Financial Aid Resource List, CCF created a dedicated page on their website to list all financial aid resources for late-stage cancer patients and individuals seeking organizations that help cancer patients financially.

Founded in 2003, The Jennifer Ferraro Foundation is a non-profit organization dedicated to ensuring that patients suffering from cancer are not limited in their treatment or their daily activities by virtue of their financial or medical status.

Either directly or through certain hospitals, funds are made available to patients for items necessary to their treatment or their daily lives. Additionally, the Jennifer Ferraro Foundation has provided funding for nutrition programs and free educational webinars.

The Joe Garassino Foundation is committed to providing resources to those touched by cholangiocarcinoma.

The foundation focuses on helping patients and their loved ones by funding travel and lodging assistance during treatment, medical expenses and funding comfort/service dogs. Bile duct cancer patients seeking organizations that help cancer patients financially can simply visit their website an fill out an online contact application.

American Life Fund wants to connect you to the people who will be your strongest advocates. When you need someone in your corner or help with your financial needs, contact American Life Fund. We’ll help you find the best option for your financial care.

Did you know that ALF provides help for cancer patients to pay bills by utilizing their existing life insurance policy? Many individuals don’t know the value of their policy and sometimes allow it to lapse because premiums become unaffordable.

When a loved one is diagnosed with cancer, the entire family is emotionally, financially, and mentally effected. In many cases, family members become caregivers and the stress of bills, choosing the right treatment and being strong for their loved one can be overwhelming.

Providing help for cancer patients to pay bills is only half the battle.

American Life Fund also provides information on local cancer support groups and online social communities for both cancer patients and caregivers.

MyLifeLine.org, is a free social network that empowers cancer patients and caregivers to build an online support community of existing family and friends.

Caregivers can connect to their community of supporters, allowing them to share their cancer journey with a network of people facing the same challenges. Support is a form of treatment and caregivers need healing too! Research proves that positive energy, interpersonal therapy and community outreach can reduce depression, anxiety and fear for caregivers and their loved ones.

Non-Profit Organization Resources

Most communities have faith-based non-profit organizations that are willing to help cancer patients with rent assistance, grocery money, utility bills, and other related costs.

Please visit ALF’s Non-Profit Partnership page to learn more about resources, cancer support and funding

Non-profit organizations like The Colorectal Cancer Alliance, offer help for cancer patients to pay bills because of high out-of-pocket costs directly connected to medication and treatment. Often times, the newer the medication, the higher the co-pay. You can simply apply for Blue Hope Financial Assistance to receive a one-time $300 financial stipend to help cover screening-related expenses or a $200 stipend to cover treatment-related expenses  for those currently in treatment.

The Brenda Mehling Cancer Fund offers help for cancer patients to pay bills and services to meet daily needs that are not covered by insurance. Typical grants cover $500 worth of medical co-payments, rent and mortgage, transportation, care insurance, repairs and groceries.

The Leukemia & Lymphoma Society provides stipends and financial help for cancer patients to pay bills and the cost of gas for outpatient treatment. In some cases, cancer patients cannot afford to seek treatment in other states because of travel expenses. When patients have exhausted local treatment options, traveling to larger cities can become costly. These funds from this foundation are only for late-stage cancer patients with blood cancers (leukemia, lymphoma and myeloma). There is a limit on the amount of financial help to each patient and family per year.

The National Patient Travel Center is a central clearinghouse that refers callers to special discounted patient air transport service groups. The center provides help for cancer patients to pay bills and assist with the cost of air travel and ambulance services.

At American Life Fund, we believe that knowing all of your financial options in the key! The more options, the better! We have dedicated viatical settlement specialists ready to assists you every step of the way. Apply today.

Cancer treatment expenses can take a toll on both cancer patients and caregivers. Medical costs related to late-stage cancer treatment in 2018 have drastically increased and new medicines prove more expensive than last year.

In addition to healthcare costs, patients may have to pay for transportation, existing debt, living expenses and nutrition.

According to the American Cancer Society Cancer Action Network, the annual cost of cancer in 2014 was roughly $91.8 billion. This figure represents $4 billion in out-of-pocket costs and the remaining amount in overall healthcare expenditures.

Unfortunately, late-stage cancer patients don’t just face healthcare costs. In most cases, they also lose their income. According to Reuters Health, a cancer patient misses five weeks of work in the first year after their diagnosis. On average, late-stage cancer patients see their earnings drop 40 percent after a cancer diagnosis. For example, if a late-stage cancer patient is earning $50,000 per year, their income is likely to drop to $30,000 per year for two years. Paying for cancer treatment can change an entire lifestyle.

The Financial Effects of Cancer

Viatical settlements can provide cash for individuals that need income while taking time off from work to get treatment. If left unpaid, outstanding medical bills and delinquent payments can affect your credit score and overall finances and the availability to receive future quality healthcare.

A viatical settlement is for late-stage cancer patients in need of immediate cancer financial assistance. Unfortunately, most late-stage cancer patients are unaware of the viatical settlement options and simply let their life insurance policy lapse, or are unaware that this once thought non-liquid asset can have immediate value.

How a Viatical Settlement Can Benefit You

A viatical settlement is an arrangement in which someone with a terminal disease sells his or her life insurance policy at a discount from its face value for ready cash. In particular, late-stage cancer patients without insurance often get diagnosed when the disease has spread throughout the body. As a direct result, they are even more likely to miss work and in need of aggressive treatment. In this scenario, a viatical settlement can help families pay off debt and pay for alternative treatment not covered by insurance.

In most situations, viatical settlements are tax-free and can be used to pay for the six most expensive primary approaches to treating cancer: surgery, radiation, pharmacological therapy, hormone therapy, immunotherapy, and chemotherapy.

Cancer patients may need to receive aggressive and expensive combinations of treatment depending on the success of surgery, that is if surgery is an option. If the cancer spreads unexpectedly, patients must be able to pay for additional treatment and medication. Costs to the patient can skyrocket depending on the type and duration of the treatment.

Many late-stage cancer patients have surgery at least once as part of their aggressive treatment plan. Treatment costs also increase if surgery involves multiple medical providers and hospitals, not to mention clinical trials.

If a provider is not in-network, a plan may not cover the full cost for the out-of-network provider or service. This can lead the patient to receive unexpected medical bills and added stress.

At American Life Fund, we believe that knowing all of your financial options in the key! The more options, the better! We have dedicated viatical settlement specialists ready to assists you every step of the way. Apply today.