Along with the distress that comes with a cancer diagnosis and the discomforts of treatment, more and more cancer patients have to deal with the financial stress of this devastating disease. There has been an increased need for financial assistance for cancer patients to help them pay their medical debts and other living expenses.
While there are many options for financial assistance for cancer patients (typcially diagnosed with advanced cancer), such as co-pay assistance, away from home stay, clinical trial matching, employer disability insurance, it’s often frustrating trying to navigate how to handle this new financial stress. Unfortunately more and more cancer patients find they need more financial help to support mounting medical bills and general household financial matters, like paying the mortgage on your home or paying rent. The most common resource they turn to is personal assets and credit cards which ultimately could affect their credit score and limit their eligibility to receive additional funds. Unfortunately, not too many people know that life insurance could be a very helpful asset in situations like these.
Life Insurance Loans Explained
Patients with terminal illnesses can get financial help by using their life insurance to borrow against while preserving a portion for the family. Funds for Living and Giving offered by Fifth Season Financial, focuses on providing patients diagnosed with advanced cancer with immediate cash borrowed against the face value of their life insurance.
Funds for Living Eligibility/Requirements for Cancer Loans
Eligibility for the life insurance loan program has two requirements: (a) a patient has to have an existing life insurance policy ( almost any type would qualify, including term insurance and group insurance); (b) a patient must be diagnosed with an advanced stage terminal illness.
As long as patients meet the above criteria, they qualify for Funds for Living and Giving Program. Fifth Season Financial doesn’t require a credit history check. Taking advantage of Funds for Living and Giving Program could help many patients improve their credit history by paying off their debts and regaining financial stability. Depending on the situation, patients could receive between 30%-60% of the face value of their life insurance. The process is very simple and our Loan Counselors do all the work.
Call or click the button “See If You Qualify” to learn more about Fifth Season Financial and how our Funds for Living and Giving could help you and your loved ones.