Thursday, June 17, 2010

Breast Cancer Financial Burden and Critical Illness Insurance

Financial worries when you or a loved one is suffering from breast cancer is a burden you don't want to cope with.
As communicated by the Vancouver Sun, The Canadian Breast Cancer Network has announced a survey that "firmly places breast cancer as an economic as well as health issue. " Of the 400 females polled, 80% say they have "experienced some kind of financial problems from the disease. It wasn't just loss of income while they were unable to work, but many other payments that led to financial problems. So while these women were trying to deal with such a terrible disease, they were hit with a "double whammy".
The statistics unveiled that nearly half the respondents said they had to use savings and a quarter went into debt, some went onto disability or had to leave their jobs and 16% actually lost their jobs. One of the individuals who took part in the survey had been a nurse for 35 years could no longer cope with her job physically, as a result had to leave. Once she resigned from the hospital, she also lost her group insurance benefits and had to resort to saved income to cope with the cost
There are other options out their to using savings and getting into debt when you have this disease, but most individuals do not realise that there are other ways. Usually within 30 days of being diagnosed, a person with critical illness insurance could have a lump sum payment paid out to them. Whilst not just for breast cancer, this type of policy is there for this type of problem, too help with those additional debts you may incur.

LSM Insurance works with over 13 different insurance companies many of them provide critical illness quote to cover over 25 critical Illnesses.
picture by Sparktography