In both men and women, lung cancer is the second most common cancer, with over 200,000 new cases diagnosed in the U.S. annually.

With so many people being diagnosed with lung cancer and patients seeking the best treatment, it’s hardly a surprise that the number one cause of bankruptcy in the U.S. is medical bills. As a result of increasing costs for lung cancer treatment, many lung cancer patients are stressed and concerned about how to afford their necessary care.

But fear not! Lung cancer treatment doesn’t have to be a financial obstacle. We at American Life Fund regularly work with lung cancer patients to help them financially, which is why we put together this comprehensive list of lung cancer financial assistance & grants, organizations that help and support lung cancer patients financially, and just plain free money available for lung cancer patients.

Here are 6 of the best resources for lung cancer patients to get free money and financial assistance.

Financial Assistance For Lung Cancer Patients Type #1: Your Life Insurance Policy pays YOU (through a Viatical Settlement)

Anyone struggling with a severe medical condition knows that health insurance doesn’t cover all costs. In the United States, even with government programs such as Medicare and Medicaid, you may still face significant out-of-pocket expenses.

However, what most people don’t know is that a life insurance policy is considered an asset that you own, meaning insurance policy holders can sell their life insurance for a lump-sum cash payment, also known as a viatical settlement.

With a viatical settlement, the funds are tax-free and non-regulated, meaning YOU decide how they are spent.

Not only can you pay towards your medical expenses, but also towards the cost of living expenses, or even a luxurious vacation with your loved ones. As the settlement holder, the freedom and the choice is uniquely yours!

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

How it works: Unlike life settlements, viatical settlements are designed for life insurance policyholders with life-threatening illnesses, reduced life expectancies, or chronic health issues.

Lung cancer patients with life insurance policies can enter agreements with third-party buyers to sell their life insurance policy in return for a lump-sum payment (more than the cash value of the life insurance policy, but less than the death benefit).

The life settlement company takes over by paying the monthly insurance policy premiums, and receives the death benefit after the seller’s passing.

If you’re considering selling your life insurance policy, American Life Fund is here to help. For us, the most important thing is alleviating the financial burden associated with lung cancer care, reducing stress, and enabling you to spend more time on the things that matter.

Through our hassle-free application process, American Life Fund will help you get an immediate cash offer for your insurance policy.

Get A Viatical Quote Today

Patient receiving lung cancer help
lung cancer support

Financial Assistance For Lung Cancer Patients Type #2: Lung Cancer-Specific Financial Grants

There are a multitude of organizations that offer free money to lung cancer patients. This type of financial assistance is also known as a lung cancer-specific financial grant.

While some grants are generalized and open to applicants with all cancer types, others are specific to lung cancer. The best place to search for financial grants you may qualify for is online and through your local nonprofit organizations.

When looking online, try searching for “lung cancer financial grants”, as well as the more general but still applicable “cancer financial grants”. The best part about cancer financial grants is that they are free money, and don’t come with strings attached.

Although it can be time-consuming to locate grants, the time invested can pay for itself. When it comes to financial grants, the most challenging part is locating an organization that still has funding available. Don’t be discouraged–remember, persistence is key and resources are out there.

The following organizational funds offer financial assistance in the form of grants to lung cancer patients in need:

Also check out these great resources:

  • Cancer Financial Assistance Coalition (this is a tool that connects cancer patients with financial assistance resources, based on geographic location and diagnosis)
  • Triage Cancer and Needymeds (these organizations maintain a long running list of financial assistance resources for cancer patients)

Financial Assistance For Lung Cancer Patients Type #3: Utility Assistance

When juggling finances to pay for cancer care, every little bit helps.

Utility assistance is payment provided to help cover the cost of utilities within a home, including payment for home energy costs, bills, and any necessary energy repairs.

Utility assistance helps lung cancer patients by taking some of the financial burden off of your shoulders, and allowing you the ability to focus more on investing in your treatment.

Programs such as the LIHEAP (Low Income Energy Assistance Program) offer utility assistance to low-income households, as well as to those experiencing crises. The contact information for this resource differs from state to state, so be sure to check the website.

Additionally, Family Reach and Stomp the Monster provide emergency financial assistance for rent, utilities, and home repairs.

You can also call “211” to locate additional local utility assistance programs for lung cancer patients in need.

Financial Assistance For Lung Cancer Patients Type #4: Prescription Assistance

With the cost of cancer medications rising, many patients feel concerned about how to afford treatment.

Thankfully, programs like PPA (Partnerships for Prescription Assistance) and Rx Outreach can help by providing free money to lung cancer patients, in the form of free or reduced cost prescriptions.

Their easy to use online websites provide a list of multiple prescription assistance programs that you may qualify for as a lung cancer patient.

Another resource offering financial assistance for lung cancer patients is Needy Meds. Needy Meds offers a free Drug Discount Card, which provides savings of up to 80% on prescription medications.

If a medication is not covered by your insurance, or if your insurance has a high deductible, fear not–you can use your Drug Discount Card to help pay for prescriptions.

Also, the Medicine Assistance Tool can help lung cancer patients to locate additional resources for prescription assistance.

Who qualifies for a viatical settlement
What happens if your life insurance policy lapses

Financial Assistance For Lung Cancer Patients Type #5: Gift Certificates, Gas Cards, and More

When dealing with lung cancer, the last thing you should have to worry about is the price of gas; however, as trips to treatment centers increase, so does the cost of transportation. Gas can be EXPENSIVE (especially if you live somewhere like California)– so why pay for it if you don’t have to?

Tenaciously Teal is a great organization that helps lung cancer patients by providing gift cards for both gas and groceries. Additionally, NeedyMeds and Mercy Medical Angels offer financial assistance for medical transportation and necessary travel expenses.

If you like freebies (because who doesn’t?), Phil’s Friends and Radiant Hope are two organizations that offer financial assistance in the form of a care package, which contains self-care freebies for those battling lung cancer. on the open market can provide financial peace of mind.

Financial Assistance For Lung Cancer Patients Type #6: Fundraising

One of the quickest, easiest ways to supplement financial assistance for lung cancer patients is fundraising. With a little upfront investment of your time and a good social network, fundraising can be an effective tool for harnessing financial funds.

Online fundraising platforms such as GoFundMe, allow you to post your need/cause and share that need/cause with others. However, the downside is that you only receive a portion of the funds raised.

A second method of fundraising worth considering–and from which you’ll get to keep all profits– is known as a personal fundraiser. With this type– you, your friends, and your family raise funds by offering something to the community, such as a bake sale or car wash, for example. Feel free to check out MedGift Advocacy Services for a whole list of fundraising ideas.

What Lung Cancer Patients Can Expect Financially

A lung cancer diagnosis is never easy, especially when that diagnosis turns into a financial burden.

In order to try to avoid financial distress, it is important to understand the costs associated with treating lung cancer.

When battling with lung cancer, some of your largest expenses are likely to come from the following: doctor visits, treatment, medication, and transportation/travel.

Doctor Visit Costs: If you’re insured, you’ll likely only have to pay a copay per visit to your doctor; the copay is usually a small fraction of the total overall cost for the visit. If you’re uninsured, you’ll pay more.

Treatment Costs: The primary method of treatment for patients with lung cancer is either surgery to remove the cancerous tissue (non-small cell lung cancer), or radiation and chemotherapy (small-cell lung cancer). For this reason, the type of lung cancer you have and the extent of your treatment will have a direct impact on the financial costs incurred–in other words, the more treatment needed, the more it is likely to cost you.

Medication Costs: While being treated for lung cancer, there are certain medications you’ll need to take. Also, if you’re actively undergoing chemotherapy, that’s another crucial cost you’ll need to consider when opting for financial assistance for treatment.

Transportation/Travel Costs: If you’re being treated for lung cancer at a facility that is not near your home, you’ll be met with the added financial stress of paying for gas and/or the costs of public transportation to get to and from your appointments.

Sound like a lot? The good news is, help is always available–and you deserve it, no matter what your financial situation is. To learn more about how we help lung cancer patients financially, contact us at American Life Fund today!

How does the application process work

Frequently Asked Questions about Financial Assistance for Lung Cancer Patients

What benefits are lung cancer patients entitled to?

If you are an American citizen struggling with lung cancer, you may qualify for Social Security Disability Benefits. The more aggressive the cancer, the more qualified you are likely to be.

Can you get financial help if you have lung cancer?

Yes, you can get financial help if you have lung cancer. You can get everything from help with prescriptions, lower utility bills, free wigs, grants, viatical settlements and much, much more.

How can I get money for lung cancer treatment?

Grants, crowdfunding, and disability benefits are some other ways you can get money for lung cancer treatment. Additionally, viatical or life settlements (where you sell your life insurance policy for a lump sum of cash), can be a great option to get money for lung cancer treatment.

Does stage 4 lung cancer qualify for disability?

Stage 4 lung cancer patients typically will be approved for Social Security Disability benefits. If you have stage 4 lung cancer, there is also a good chance you will qualify for a viatical settlement.

Further Reading

>> What Is A Viatical Settlement

>> Diagnosed With Cancer: What To Do Next

>> Vatical Settlement Calculator

>> Pancreatic Cancer Treatment Costs: What to Expect

>> 30+ Organizations That Help Cancer Patients Financially

>> Financial Help & Free Money For Cancer Patients

>> Paying For Cancer Treatment: Resources, Budgeting & Costs

>> End Of Life Planning: Everything You Should Do (with checklists)

>> Is Stage 4 Cancer Terminal?

>> Best Holistic & Alternative Cancer Treatment Centers

>> Best Cancer Blogs

>> Alternative Cancer Treatments: What The Research Says

>> Can You Sell Your Life Insurance Policy?

Financial Assistance Other Cancer Types:

>> Financial Assistance For Bile Duct Cancer Patients

>> Financial Assistance For Multiple Myeloma Patients

>> Financial Assistance For Pancreatic Cancer Patients

>> Financial Assistance for Thyroid Cancer Patients

>> Financial Assistance For Prostate Cancer Patients

>> Financial Assistance For Colon Cancer Patients

>> Financial Assistance For Esophageal Cancer Patients

>> Financial Assistance For Breast Cancer Patients

>> Financial Assistance for Sarcoma Cancer Patients

We’ve helped thousands of people just like you.

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“You never know how stressful a cancer diagnosis is until you experience it yourself. American Life Fund relieved my financial worries so I’m able to focus on my journey to recovery!”

Andrea, Arizona

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“Once I received the first bill for treatments, I knew that I had to come up with a financial plan. I found American Life Fund and instantly felt reassured that I was in good hands. They were able to provide me with the money I needed and literally saved me from bankruptcy. I am now able to enjoy my time with what means the most to me, my family.”

Dan, Alabama

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“When my husband was diagnosed with cancer and our retirement ran out, we needed a plan B and fast. American Life Fund provided the financial help we needed exactly when we needed it.”

Charlene, Wisconsin