During his lifetime, 1 in every 8 men will develop prostate cancer—making it the most prevalent cancer among men, second only to skin cancer.

The good news is, when caught and effectively treated in a timely manner, it is unlikely to lead to death. Timely treatment can therefore be a literal lifesaver for the thousands of men suffering from prostate cancer. However, the cost of treatment isn’t cheap, with some individuals paying several thousand dollars per month. That said, even with insurance, many men are struggling to afford the treatment costs associated with prostate cancer. Luckily prostate cancer financial assistance exist!

We at American Life Fund regularly work with patients to help them financially, which is why we put together this comprehensive list of financial assistance and free money available to patients.

Here are 6 of the best financial resources for patients to get free money and financial assistance.Blog feature image with person sits on a chair with both hands on his lap with a doctor holding a pen and paper and a caption that says prostate cancer

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 policyholders 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.

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 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.

Prostate Cancer-Specific Financial Grants

There are a multitude of organizations that offer free money to cancer patients, including the American cancer society. This type of assistance is also known as a prostate cancer-specific financial grant.

While some grants are generalized and open to applicants with all cancer types, others are specific to prostate 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 “prostate 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 financial resources are out there.

The following organizational funds offer assistance in the form of grants to 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)

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 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 assistance for rent, utilities, and home repairs, and Cleaning for a Reason offers 2 free home cleanings to patients. You can also call “211” to locate additional local utility assistance programs for patients in need.

Prescription Assistance

financial assistance for prostate cancer patientsWith 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 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 patient.

Another resource offering assistance for 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 health insurance, or if your health 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 patients to locate additional financial resources for prescription assistance.

Gift Certificates, Gas Cards, And More

When dealing with prostate 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?

The Zero Drive Transportation Program offers $300 debit cards to patients in need of help with transportation costs. To be eligible, you must reside in one of the following states: Florida, Texas, New York, Iowa, or Pennsylvania.

If you don’t live in any of those states mentioned above, don’t be discouraged! There are plenty of region-specific financial resources available for patients in need. Check out NeedyMeds and Mercy Medical Angels, these sites can help you to find assistance for medical transportation and necessary travel expenses.

Lastly, Netwish is a great nonprofit organization committed to helping those in need of extra assistance; they offer one-time gift cards of $200 that can be used however the patient sees fit. So what are you waiting for? Go snag yours today.


One of the quickest, easiest ways to supplement financial assistance for 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.

Don’t be afraid to seek a higher quality of life. You deserve it, no matter what your financial situation is. To learn more about how we help patients financially, contact us at American Life Fund today!

What Cancer Patients Can Expect Financially

A prostate 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 prostate cancer.

When battling prostate 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. Prostate cancer copay assistance is still useful! If you’re uninsured, you’ll pay more.

Treatment Costs: Mild prostate cancer doesn’t always require treatment right away; however, if your cancer is more moderate to severe and your doctor has determined treatment is necessary, the most common method is surgical removal of the prostate gland and any surrounding tissue that may have become cancerous. Lymph nodes may also be removed, depending on the scope and spread of the cancer. Radiation is also commonly used as a form of treatment. 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 there are certain medications you’ll need to take. For example, hormone therapy relies on medications to block testosterone and is usually necessary for more advanced forms of prostate cancer. Additionally, if you’re actively undergoing chemotherapy, that’s another crucial cost you’ll need to consider when opting for assistance for treatment.

Transportation/Travel Costs: If you’re being treated 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 patients financially, contact us at American Life Fund today!

Frequently Asked Questions About Financial Assistance For Prostate Cancer Patients

What Benefits Are Prostate Cancer Patients Entitled to?

If you are an American citizen struggling with prostate 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?

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

How Can I Get Money For Treatment?

Grants, crowdfunding, and disability benefits are some other ways you can get money for 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 treatment.

Does Stage 4 Prostate Cancer Qualify For Disability?

Stage 4 cancer patients typically will be approved for Social Security Disability benefits. If you have stage 4 prostate 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

>> 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 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 Colon Cancer Patients

>> Financial Assistance For Esophageal Cancer Patients

>> Financial Assistance For Lung Cancer Patients

>> Financial Assistance For Breast Cancer Patients

About the Author: Lacey

Lacey is a compassionate and dedicated marketing director at American Life Fund, a leading life and viatical settlement company. Lacey has made it her mission to help patients with life-threatening illnesses and their families get the financial support they need during difficult times.

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