By: Tracey Aaron
If you are facing a cancer diagnosis and experiencing financial stress, you should be aware that there are programs that can help! In addition to many non-profit organizations that provide specific funding for those impacted by cancer, you may have some assets that you can leverage to receive unrestricted funds. One such asset, is a life insurance policy.
You may be unaware that your life insurance policy is an asset that can be leveraged in several different ways; through life settlements and offerings like the Fifth Season Financial Funds For Living Program.
The Funds For Living Program provides financial advances that are secured solely by your life insurance policy’s death benefit. The program helps alleviate financial worries by giving you access to part of your life insurance benefit now while still leaving money to your loved ones later. If you qualify, you can expect to receive 10%-60% of your policy’s face value benefit as a lump sum. Unlike the funds allocated by medical insurance or not-for-profit organizations, the money you receive from the Funds For Living Program is completely unrestricted. In other words, the funds can be used for anything, from paying for more personalized care, to memory making family vacations, to paying off your mortgage. Fifth Season Financial also absorbs all future premium payments to maintain your life insurance policy. All interest payments and fees are paid out of the policy and not by you directly. Therefore, there are no monthly payments due, no out of pocket expenses, no credit checks and no other collateral required. Fifth Season Financial is a licensed consumer lender in the State of Texas so you can trust that you’ll be working with a reliable source of financial assistance that has already helped thousands of individuals in situations.
To find out more about this unique opportunity, click HERE.
Organizations That Offer Cancer-Related Financial Assistance to Texans
There are a number of private non-profits offering financial support for cancer patients.
American Cancer Society: The American Cancer Society] offers a cancer helpline, free rides to cancer treatment and assistance with lodging if treatment is far from home.
Cancer Care: helps with connecting individuals with cancer and in need with other financial assistance resources. They provide necessary funds for transportation, home care, and childcare.
Cancer Financial Assistance Coalition: A coalition of 14-member organizations, offers resources for cancer patients who need financial assistance with treatment. They provide specific help based on the patient’s diagnosis, the patient’s need and the patient’s geographic location.
HealthWell Foundation: provides patients living with chronic and life-altering illnesses, financial assistance in paying for prescription drug copayments, deductibles, and health insurance premiums.
Leukemia & Lymphoma Society: offers free education and support for patients, survivors, families and healthcare professionals in the area of blood cancer. They advocate for blood cancer survivors and their families, help patients navigate cancer treatments and assist patients with access to quality, affordable and coordinated care.
Lymphoma Research Foundation: offers a financial assistance program for people currently undergoing treatment for lymphoma. LRF may be able to assist with some specific quality-of-life expenses.
National Marrow Donor Program (Be the Match): helps patients and their families understand the donor search process, navigates insurance coverage and financial options, and prepares for life after transplant.
Patient Advocate Foundation Co-Pay Relief: National organization providing direct financial assistance to assist with prescription drug copayments.
Patient Advocate Foundation: Patient Advocate Foundation’s Colorectal CareLine is designed to provide assistance to patients who have been diagnosed with colorectal cancer and are seeking education and access to care. Provides professional case management services to patients with chronic, life threatening and debilitating illnesses. PAF case managers serve as active liaisons between the patient and their insurer, employer and/or creditors to resolve insurance, job retention and/or debt crisis matters as they relate to their diagnosis.
Sarcoma Alliance: offers financial support in the form of grants. The Hand in Hand: The Suzanne Renée Leider Memorial Assistance offers financial assistance (up to 500$) for second opinion consultations by reimbursing expenses related to travel, phone bills, costs of the evaluation, and related expenses. The Assistance Fund does not pay for ongoing treatment subsequent to the second opinion.
Fifth Season Financial: provides financial solutions for patients with advanced stage illnesses. Fifth Season Financial works with patients who have diagnoses of stage III or IV cancers, congestive heart failure, COPD, ALS, kidney/renal disease, Alzheimer’s/dementia and other serious life limiting health conditions. The Funds for Living Program provides patients with financial relief by offering loans secured entirely by the patient’s life insurance policy. Unlike many of the programs listed above, the money can be used in any way with absolutely NO restrictions.