Today financial instability can affect anyone, especially when unexpected medical conditions present themselves. According to a survey by the Kaiser Family Foundation, about 56% of Americans report that they have medical debt, with cancer being one of the most expensive illnesses to treat. The National Cancer Institute estimates that the overall costs for cancer care in the U.S. were $208.9 billion in 2020, and this figure is projected to rise in the coming years.

Medical expenses are a leading cause of bankruptcy, with over 60% of all personal bankruptcies attributed to overwhelming medical bills. Cancer patients often face substantial financial stress, with out-of-pocket costs averaging $3,500 to $4,000 annually, even with insurance. This shows the extreme need for financial assistance programs, especially for those battling serious illnesses like cancer.

Below we will review several resources available for financial aid, offering support to those in need. Our goal is to help you find the financial support necessary to focus on what truly matters – your health and recovery.

Learn About Financial Resources to Help Manage The Cost of Cancer.

If you’ve been diagnosed with cancer or another life-threatening illness, you know firsthand how important it is to focus solely on your health right now. However, managing the influx of medical bills can make this difficult. Fortunately, cancer grants and financial support from various organizations can provide much-needed relief.

Financial Assistance for Cancer Patients:

  • Cancer Grants and Charities: Numerous organizations offer financial support to cover medical bills, transportation costs, childcare, and other out-of-pocket expenses, especially for low-income households.
  • Free Groceries and Essentials: Local food banks, cancer support organizations, hospitals, and specialized non-profit programs provide free groceries to cancer patients. These initiatives ensure access to nutritious food during treatment, alleviating some of the financial burdens on patients and their families.
  • Additional Support: Some organizations offer unique opportunities, such as dream vacations, to provide a much-needed respite from treatment.
  • American Life Fund Assistance: At American Life Fund, we help cancer patients access significant funds through viatical settlements by selling their existing life insurance policies. These funds can be used for medical treatments, alternative therapies, home care, or other needs.

Key Financial Assistance Programs and Organizations:

Here are seven notable programs and organizations that provide financial support and resources to cancer patients:

  • Government Assistance Programs: Various government programs offer financial aid for medical bills, food stamps, and other necessities for those facing financial difficulties due to cancer.
  • Pharmaceutical Patient Assistance Programs: Sponsored by pharmaceutical companies, these programs help cover the cost of prescription drugs and other medical expenses.
  • CancerCare: Offers financial assistance programs for transportation, childcare, medical supplies, and co-payment assistance for insurance costs.
  • American Cancer Society: Provides financial assistance programs, including free rides to treatment centers and low-cost lodging near treatment facilities.
  • Ronald McDonald House: Offers affordable lodging for families of cancer patients, ensuring they can stay close during treatment.
  • PAN Foundation: Provides direct financial assistance grants to struggling cancer patients, covering various medical and living expenses.
  • Family Reach: Offers emergency financial relief to cancer patients, ensuring they can meet their daily living expenses during treatment.

Exploring these resources can help you manage the financial aspects of cancer treatment, allowing you to focus on your recovery.

American Life Fund is an organization that helps cancer patients financially by giving them access to large sums of cash within two weeks by assisting them with  selling their existing life insurance policy.

This money can then be used to pay for medical treatment, prescription drugs, Alternative & Holistic Cancer Treatment Centers, home care, and other healthcare needs.

It also can be used for anything else you may want such as living expenses or even a dream vacation with your family. If health insurance doesn’t cover the cost of your care and offers limited financial assistance, American Life Fund can help.

Jackie from North Dakota had this to say: “American Life Fund gave us everything we needed to get the process done quickly. We appreciate the caring people we worked with on their team. They worked diligently and were always patient with any questions that I had. I would rate them an A++.”

See what our clients have to say about us.

The US Department of Health & Human Services provides educational resources about cancer that are designed to help survivors, people who live in rural communities, and other strained demographics.

And in terms of financial aid, the Health and Human Services Department offers a range of helpful services for people who have financial difficulties due to cancer or other hardships, like low income homeowners, including food stamps and financial assistance.

These direct financial assistance programs are typically sponsored by pharmaceutical companies and aim to offer financial aid to people battling cancer who don’t have health insurance coverage.

They can provide low-cost access to prescription drugs and get help paying for other medical expenses for cancer patients.

Some organizations that help with the cost of pharmaceutical drugs are:

CancerCare has two main programs designed to help ease the financial stress on cancer patients:

  1. The financial assistance program is designed to help offset costs that are related to a long-term illness, such as transportation, child care, and medical supplies.
  2. The co-payment assistance program helps with covering the cost of insurance copays for cancer treatment. While the Affordable Care Act and Medicaid can help to make health care less expensive, medical bills can still pile up.

On top of financial assistance, this group also offers other local resources like access to financial counselors, education, and support groups. There are even social workers who can help you find and apply for financial assistance from other groups and advocacy organizations.

As one of the most famous organizations that help those struggling with cancer, this non-profit organization focuses on educating people about the warning signs of cancer, from breast cancer to leukemia to pancreatic cancer, and hopes to use their web site and other sources to educate people about early detection of cancer.

When it comes to financial support, the American Cancer Society has a few financial assistance programs. For example, in regions with the Road to Recovery Program, patients can access free rides from volunteers to hospitals and clinics.

Additionally, this group may be able to help people get low-cost lodging near their cancer treatment center. The American Cancer Society can also help people find local financial resources in their community.

When someone is going through cancer treatment or receiving associated medical care, they most likely want a family member nearby.

But if the health care provider or treatment center is far from home, the family will have to find lodging, which can be expensive.

Fortunately, the Ronald McDonald House website states that they offer rental assistance for cancer patients from just $25 per night and can offer direct financial support for families who can’t pay.

Having family close by is important during trying times, especially for young people and whether it’s a diagnosis of cancer or other serious health care concerns, families can stick together with this organization.

Get Money For Your Life Policy Now!

Blog feature image with different cancer ribbons and a caption that says organizations that help cancer patients financially

Other Organizations That Help Cancer Patients Financially:

When faced with a cancer diagnosis, many struggle to meet their financial challenges and obligations while dealing with life-changing medical treatments. Fortunately, federal government grants are available to help ease the burden on patients and their families. These grants for terminal cancer patients provide important emergency financial support, particularly to low-income families, covering such expenses as medical bills, living costs, transportation to treatment appointments, and other needs specific to the patient’s situation.

Government programs and federal grants for cancer patients undergoing experimental treatments or participating in clinical trials are made specifically available. Whether you or a loved one has recently been diagnosed with cancer, it is reassuring to know that government benefits for cancer patients are available to help ease the financial strain of this difficult time. With government grants for patients, you can focus on getting well without worrying about your next bill. Here are some cancer foundation names that may be worth reaching out to:

  • PAN Foundation(offers direct financial assistance grants to struggling cancer patients)
  • National Cancer Assistance Foundation (offers financial assistance to struggling cancer patients; patients in the following states are not eligible: AR, IA, MI, OR )
  • Headstrong Foundation (offers financial grants to struggling cancer patients)
  • Family Reach (provides emergency financial relief to cancer patients)
  • The Jadyn Fred Foundation (offers financial assistance to struggling cancer patients)
  • Cancer Lifeline (offers financial assistance to struggling cancer patients)
  • The SamFund (provides grants to young adult cancer survivors)
  • Cancer Family Relief Fund (offers limited financial assistance to parents facing cancer)
  • CancerCare (offers diagnosis-specific co-pay financial assistance to cancer patients)
  • Patient Advocate Foundation (offers diagnosis-specific co-pay financial assistance to cancer patients)
  • Healthwell Foundation (offers diagnosis-specific co-pay financial assistance to cancer patients)
  • Good Days (offers financial assistance for treatment medications to cancer patients with certain diagnoses)
  • Cancer Financial Assistance Coalition (this is a tool that connects cancer patients with financial assistance resources, based on geographic location and diagnosis)
  • American Cancer Society Financial Assistance( this is a general resource to help cancer patients get connected with financial assistance resources)
organizations that help cancer patients financially usa bald cancer patient doing yoga on the beach

How American Life Fund Helps Cancer Patients Financially

For many cancer patients with a life-threatening diagnosis, a viatical settlement can be one of the greatest sources of financial help.

WHAT TO EXPECT

Viatical settlements are different from other types of financial assistance for cancer patients because they:

  • Provide cancer funds quickly, within a matter of weeks.
  • Provide large, lump-sum payments.
  • There are no restrictions on using the money.
  • It reduces monthly bills by eliminating life insurance payments.

VIATICAL SETTLEMENTS DEFINED

A viatical settlement is an arrangement in which someone with a life-threatening illness sells his or her life insurance policy for cash.

Best of all, under federal law, viatical settlements are non-taxable and can typically be used for anything you want.

WHAT HAPPENS IF MY LIFE INSURANCE POLICY LAPSES?

According to the Life Insurance Settlement Association (LISA), more than 710,000 policies are lapsed or surrendered each year. As a direct result, a staggering seven billion dollars in combined face value is lapsed each year by American seniors over the age of 70.

Once a life insurance plan lapses, the life insurance company is not under any legal obligation to pay the beneficiaries if an insured person passes away. The reinstatement process requires good health with proof of insurability and all missed premiums must be paid to the insurance company.

Essentially, the viatical settlement process allows late-stage cancer patients to explore all options before lapsing the life insurance policy because of unaffordable premiums.

Even with a decision to keep the policy, knowing the value of the policy on the open market gives the patient options and financial peace of mind.

Here’s How The Viatical Settlement Process Works to Get You Cash:

  • Contact American Life Fund today at 877-261-0632 to speak with a counselor or complete our easy online form.
  • Complete the simple application. After the simple three-page application is submitted, American Life Fund will review all medical records and policy information to verify all the details provided by the insured.
  • Receive an offer. Once the insured’s case information is verified, an offer for your policy may be provided. If accepted, closing documents will be sent out for your signature. Next, your life insurance carrier will be instructed to make the necessary beneficiary changes to the policy. Once these changes are made, you will receive a lump-sum payment for your policy.

American Life Fund ensures complete confidentiality and follows any privacy policy under federal law during the entire viatical settlement process.

Cancer support resources and contact information for advocacy organizations will be offered if you choose to decline the offer. There is no waiting period to re-apply, as we understand that help for families with cancer is a big decision and may need more time to discuss all options.

Cancer patient receiving help & older couple reading ipad
financial assistance for cancer patients & signing a viatical settlement to get cash fast

WHY SELL MY POLICY?

  • Pay for medical costs or alternative treatment
  • Premium payments become unaffordable
  • Funds [provided are immediate and tax-free
  • No obligation, receive an instant quote and three-page application process
  • Replace loss of income

WHO QUALIFIES?

  • Individuals with late-stage cancer or a life-threatening disease
  • Currently own an existing life insurance policy
  • Policy proceeds of the life insurance policy is at least $150,000 or more

HOW DO I APPLY FOR A VIATICAL SETTLEMENT?

  • Call 877-261-0632  or apply for a viatical settlement online to find out what your policy is worth. There’s no-hassle & zero obligation.
  • If you qualify for a viatical settlement, you’ll be sent a simple, three-page form asking for additional information on you and your policy.
  • Once we receive your forms and verify the information provided, you can receive an offer on your policy.
  • If accepted, you can receive your funds in as little as 2 weeks. It’s that simple.

If you need financial help, check out the above organizations that help people suffering from cancer financially. To learn more about cashing in on your life insurance policy early, contact American Life Fund directly. We may be able to help. We hope our list of cancer resources provides the support needed during this unimaginable time.

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We’ve Helped Thousands of People Just Like You.

Andrea, a cancer patient from Arizona, smiling and sharing her positive experience with American Life Fund.

“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

An elderly couple from Alabama, Dan and his wife, smiling and expressing their gratitude to American Life Fund for financial assistance.

“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

Charlene from Wisconsin, smiling and wearing a purple headband, shares how American Life Fund helped her and her husband during her cancer treatment with viatical settlements

“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