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Financial Help & Loans for Cancer Patients

Financial Help & Loans for Cancer Patients

Fortunately, there are many ways to get financial help for cancer patients. In addition to borrowing from your life insurance policy, here are some ideas that you may want to explore further.

Income Assistance

The first thing to think about is income assistance. Low-income families can get Supplemental Security Income (SSI). There’s also the Temporary Assistance for Needy Families or TANF program.

Financial Help for Cancer PatientsTravel Help

A second category is travel expenses. The help is so finely attuned that it has been split into driving/ground transport and air travel. For ground, check out the American Cancer Society’s Road to Recovery program. There may even be help with parking lot fees.

For air travel, contact the National Patient Travel Center. From air travel costs to emergency air ambulances, this group has helped over 100,000 patients since 1972.

Miscellaneous Expenses

The TANF program, mentioned earlier, is even helpful for covering the cost of phone costs – and not just landlines. In a world of mobile phones, they have upgraded to help needy families with those expensive mobile bills.

Another category of help not to be overlooked is “miscellaneous.” That may sound trivial, but the American Cancer Society encourages you to call them about local programs in your area. What’s the message here? If you need financial help, there’s a big safety net out there waiting to be used. This can help relieve financial pressure so you can focus on what matters most.

Food Assistance

Finally, there is help with food. A lot of help. Meals on Wheels is dedicated to helping. There’s the government run SNAP program. And now there is a hotline at Whyhunger.org.

When you ask, how can I help my friend or relative with cancer, it pays to look for available resources. Often times, there are people at the cancer center and nearby cancer organizations that can guide you to additional sources of financial assistance. Financial help for cancer patients can relieve a huge portion of the burden. If you have questions about financial assistance in the form of a living benefit loan, please contact us.

How a Living Benefit Loan Works

A Living Benefit Loan from Life Credit lets you borrow against your life insurance death benefit — not the cash value. This means any policy type qualifies, including term life, whole life, universal life, group life, and FEGLI. The minimum death benefit is $75,000.

  1. Apply — Provide your policy details. No credit check, no income verification required.
  2. Review — We evaluate your policy and determine how much you can access (up to 50% of death benefit).
  3. Receive funds — Money deposited in as few as 3 business days.
  4. No monthly payments — The loan is repaid from the death benefit when it eventually pays out.

Your beneficiaries still receive the remaining death benefit after the loan is repaid. APR up to 35.99%. Origination fee of 3% of the death benefit.

📚 Related In-Depth Guides

Who Qualifies?

You may qualify for a Living Benefit Loan if you:

  • Own a life insurance policy with a death benefit of at least $75,000
  • Have any policy type — term, whole, universal, group, or FEGLI
  • Are diagnosed with a serious or terminal illness, or are over 65

Check your full eligibility →

Compare Your Options

A Living Benefit Loan isn't the only way to access your life insurance value. Depending on your situation, you might also consider a traditional policy loan, accelerated death benefit, viatical settlement, or life settlement. Each has different trade-offs in speed, amount, and whether you keep your policy.

See all 6 ways to access cash from life insurance →

Frequently Asked Questions

What financial help is available for cancer patients?

Options include Living Benefit Loans, viatical settlements, accelerated death benefits, SSDI, Medicaid, hospital charity care, and nonprofit grants.

Can I borrow against my life insurance during cancer treatment?

Yes. A Living Benefit Loan provides up to 50% of the death benefit in as few as 3 business days. No credit check.

Will I lose my life insurance?

Not with a Living Benefit Loan — you keep your policy and your beneficiaries receive the remaining death benefit.

Ready to Explore Your Options?

No credit check. No monthly payments. Funding in as few as 3 business days.

Get Started Free Call 1-888-274-1777
Life Credit Life Credit

Providing Living Benefit Loans to cancer patients and seriously ill individuals since 2012.

1-888-274-1777

Contact

7924 Ivanhoe Avenue, Suite 10
La Jolla, CA 92037

1-888-274-1777

support@lifecredit.com

Mon–Fri: 9:30am–6:30pm EST

Maximum APR = 35.99%, Minimum repayment = 90 days, maximum repayment = 120 months. Your actual rate depends upon, loan amount, loan term, and collateral, and will be agreed upon between you and the lender. An example of total amount paid on a loan of $200,000 secured by a $400,000 life insurance policy for a term of 24 months at a rate of 18% would be equivalent to $295,188.80 over the 24 month life of the loan, this includes an origination fee equal to 3% of the life insurance policy’s death benefit which serves as collateral. Life Credit Company, LLC is a California licensed consumer lender, as required by law, with its main office located at 7924 Ivanhoe Avenue, Suite 10., La Jolla, CA 92037, Telephone Number 888-274-1777. California Finance Lender License #601K051. This site is directed at, and made available to, persons in the continental U.S., Alaska and Hawaii only. Life Credit is a marketing company. It is not a life settlement provider or broker. Life Credit will refer qualified policies to a licensed entity.

Loans will be arranged or made pursuant to a California Finance Lenders Law License.

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