How to Find Financial Support When Facing a Life-Threatening Illness?

By Your Health Magazine

Living with a life-threatening illness is one of the most challenging things a person can experience, because their life is filled with uncertainties, and everything becomes even more difficult when you do not have the means to tackle various financial hurdles that come with this situation.

You suddenly feel hopeless, because it seems as if you have no one to turn to, however, even in these circumstances, there’s a light at the end of the tunnel, and if you would like to know how that “light” can make your life less stressful, then just pay attention to the suggestions below.

A Helping Hand – American Life Fund

A vast majority of people who reside in the United States have life insurance because they know how valuable it is. But sometimes (like in this current situation), when your funds are limited, your only option is to sell it in order to cover numerous medical bills that you’re flooded with

Selling it can bring you a substantial amount of money that could allow you to live your life relatively normally, without constantly obsessing over your expenses. This institution can be perceived as a financial assistance to individuals with life-threatening illnesses, and, concurrently, provide them with much-needed support. Therefore, if you want this financial burden to be alleviated for a bit, then maybe you should consider this option.

GoFundMe May Also Be A Good Option

GoFundMe is one of the most popular fundraising platforms that has helped lots of people raise staggering amounts of cash for different purposes, like paying for their medical costs, numerous treatments, and many other things.

People didn’t solely use it for life-threatening conditions, such as cancer, but for IVF (in vitro fertilization) as well, because it’s one of the most expensive procedures in the world, that hardly anyone can afford.

But after all, it doesn’t matter what’s your cause behind this decision, what matters is the fact that setting up a campaign on this website is very straightforward, and when done right, it can help you raise the necessary funds relatively quickly.

Of course, before you take any further steps as far as this is concerned, you should first go through the terms and conditions section to ensure you understand everything perfectly.

Family Members And Friends Can Help Too!

Unfortunately, many patients who live with serious health conditions avoid taking this step due to many reasons. A lot of them are simply ashamed to ask for any form of financial assistance, regardless of how urgent it is.

But what they need to understand is that these people know them their entire lives, and if there’s anyone who’s going to help them in these challenging times, it’s them. Nobody ever loves seeking any kind of help (including financial), but in these instances, shame and guilt must be set aside, if you want to go through this journey with as little stress as possible.

Maybe You Can Create A Payment Plan

Thankfully, there are lots of healthcare providers who are willing to work out a low-interest payment plan or no-payment plan to help you out with your medical expenses. Generally speaking, many people who have financial issues, resort to this option when they do not have enough money to pay for all their bills in one go.

Now, you are probably wondering what is the minimum monthly payment that you need to give for your medical bills. There isn’t one answer to this question, because it will all depend on the overall bill amount, along with the terms you agreed upon.

In many situations, patients break the bill into several equal payments over a couple of months until they pay off everything. If that’s something that suits you as well, then you can implement this strategy.

Speaking of this, you should check to see whether there are any billing charges or any fees that are associated with the payment plan that you picked, so you can see if you can really afford it or not.

Medical Credit Cards Are Also An Option Worth Considering

So what do these represent? They can be described as credit cards that people typically use to cover their medical bills. Since you’ve been dealing with them for quite some time (due to your illness), then maybe this can be a good option if the ones that were previously mentioned aren’t currently possible.

Just like conventional credit cards, you can pay back money through a couple of monthly payments. The only drawback to this solution is the fact that as opposed to conventional credit cards, these have higher fees and interest rates.

Additionally, they may come with deferred interest promotions which can result in heavy interest fees and charges if you do not pay off everything you owe before the offer period is over. Even though there’s no doubt that medical credit cards are an amazing option to some, there are still some people who do not have enough funds for them, hence it would be advisable to weigh the pros and cons when it comes to this before you make up your mind.

What About A Personal Loan?

When you’re living with a serious illness, sadly, medical urgencies become relatively common and something that a person gets used to. However, no matter how common they are, when you’re struggling financially, you always live in fear that you may not be able to successfully tackle them.

Not to mention the fact that oftentimes, your health insurance won’t fully cover your medical bills. That’s why it wouldn’t hurt to consider applying for a personal loan because it’s going to allow you to cover a large portion of your medical bills all on your own which will give you peace of mind knowing that they’ve been properly taken care of. Lots of people with similar life circumstances resort to this option, so why wouldn’t you?

Being strong in these instances is definitely easier said than done, particularly when you’re struggling financially, however, as you can see, there are lots of tools that you can resort to that just might make your life smoother.