When you are told you have cancer, the diagnosis affects not only you, but also your family and friends. You may feel scared, uncertain, or angry about the unwanted changes cancer will bring to your life and theirs. The emotional impact of dealing with a cancer diagnosis can be very difficult.
The second worry is often money. How do I support my family, run a home, continue to pay bills during my treatment? What if I have no health Insurance? What if I can’t work? This added financial stress can cause serious emotional pressure during this difficult time.
A Cancer Cover plan is designed to help you through this difficult time. Cancer Cover is different to traditional serious illness plans. It focuses solely on cancer and therefore, Cancer Cover costs substantially less than serious illness protection. It pays a lump sum benefit on the diagnosis of cancer of specified severity and can also provide partial payments.
The financial implications of living with cancer:
A report by the National Cancer Registry Ireland* highlighted the severe financial implications of cancer on Irish families. The report highlighted a number of key areas of concern for cancer sufferers.
- Increased medical costs such as consultant fees and expensive medications.
- Actual out of pocket expenses such as increased travel to appointments that may be in medical centres of excellence located a distance away from home.
- Increased utility bills due to the extra time spent at home recovering from surgery.
- Reduction in earnings due to patients (and their family members) having to take time off work.
This is particularly relevant for those that are self-employed. While many people fear the medical effects of cancer, the adverse financial implications are often ignored. The report highlighted the increased financial stress and financial strain experienced by many households where someone has been diagnosed with cancer. This increased financial stress and strain is associated with a greater likelihood of experiencing depression, anxiety or emotional stress.
*National Cancer Registry Ireland 2010