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American Life Fund > Blog > Uncategorized > The Cost of Cancer in 2019: How a Viatical Settlement Company Can Help

The Cost of Cancer in 2019: How a Viatical Settlement Company Can Help

The cost to treat cancer is so staggering in the United States that the National Institute of Health projects annual spending associated with cancer costs to be $158 billion by 2020. And for patients, as the cancer grows, so do the costs associated with treating it. Cancer treatment expenses increase exponentially as the disease progresses in patients. One solution to assist with these heavy expenses is to work with a viatical settlement company. They allow you to obtain immediate funds through the sale of your life insurance policy.

The Cost to Treat the Top Cancers

Cancer does not discriminate. Any person can get cancer in any area of their body. Below are the leading types of cancer and the National Cancer Institute’s projected cost of treatment for 2019-2020 for these cancer types.

  • Lung cancer: $60,885 initial cost, $7,591 annual ongoing costs, and $95,318 for the last year of life
  • Colorectal cancer: $51,812 initial cost, $4,595 annual ongoing costs, and $85,671 for the last year of life
  • Bladder cancer: $20,960 initial cost, $4,677 annual ongoing costs, and $75,772 for the last year of life
  • Melanoma: $5,437 initial cost, $1,951 annual ongoing costs, and $62,436 for the last year of life
  • Breast cancer: $23,078 initial cost, $2,207 annual ongoing costs, and $62,856 for the last year of life
  • Lung cancer: $60,553 initial cost, $8,130 annual ongoing costs, and $92,524 for the last year of life
  • Uterine cancer: $26,775 initial cost, $1,535 annual ongoing costs, and $70,175 for the last year of life
  • Thyroid cancer: $20,000 initial cost, $4,000 annual ongoing costs, and $60,000 for the last year of life

Living with cancer is not only emotionally and physically devastating, it can quickly drain a family’s finances as well. It is no surprise that people with cancer file for bankruptcy at two and one-half times the rate as people who do not have cancer. Working with a viatical settlement company like American Life Fund can provide you and your family the funds you need and save you from the financial stress that comes with a cancer diagnosis.

The Types of Expenses That Viaticals Cover

Viatical settlements cover a wide variety of expenses including:

  • Current and future medical bills
  • Alternative treatment costs not covered by insurance
  • Day to day living expenses such as rent, mortgages, car payments, etc.
  • A once in a lifetime vacation or trip with loved ones
  • Allows you to pay off existing debts

What to Expect When You Work with a Viatical Settlement Company

The viatical settlement process is relatively simple. You provide initial information about your medical status and life insurance policy. Then, the company verifies this information and provides you with an offer for your policy. Once accepted, your receive funds in 1-2 weeks.

To get started, complete our simple form to find out immediately if you qualify. You can also call us toll-free at 877-421-0148 to find out if you qualify or to learn more about how the viatical process works.

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