There are resources available to help you and your family navigate and plan for financial considerations involved in treatment and caregiving. For example, the National Cancer Institute has a database of support services, some of which provide financial assistance in various forms to patients and their families.
If you do not already have a financial planner or advisor, finding one during times of stress may not be at the top of your list, but it is still very important. The Financial Planning Association (FPA) offers resources to assist people in finding a financial planner and offers some basic financial planning information. Many banks offer financial planning assistance as well. Check with your bank to see what services may be available to customers.
When preparing to speak with a financial planner/advisor, below are some ideas to consider if you are facing a possible financial hardship:
- Explore social security benefits and eligibility requirements.
- Student loan creditors may have alternate payment plans or deferrals for proven financial hardship.
- Other creditors (credit card, mortgage, etc.) may have options to adjust monthly payments based on proven financial hardship.
- There may be early withdrawal capabilities in a 401K plan due to proven financial hardship.
Every circumstance is unique, making it difficult to provide common recommendations. Make sure to speak directly with a representative from your financial institution(s) to understand the options available to you, and be sure to consider any consequences before making adjustments.
To build and sustain a community for all those affected by lung cancer, we encourage our entire community to make their estate plan. One critical part of estate planning is writing your will. We’ve partnered with FreeWill: a free online resource that guides you through the process of making or updating a legally valid will in just 20 minutes so you can take care of all that you love.