| A diagnosis of cancer will most definitely have | | | | person is not expected to live. You have to be |
| significant impact on the affected family's finances. | | | | practical if your finances are threatened, even if you |
| Thoughtful evaluation of the family's financial resources | | | | don't like facing up to unpleasant facts. |
| will be necessary. Difficult, sometimes painful, | | | | Some help may be available from outside agencies. |
| adjustments may be required. I discuss this in my book | | | | You could have a list of these already, or find them |
| Their Cancer - Your Journey, and share the following | | | | through your medical team. Contact them to see if |
| with you: | | | | help is available in your situation. The person with |
| Once upon a time, not all that long ago, most people | | | | cancer may be able to claim some welfare benefits to |
| worked in secure jobs for many years. They had full | | | | help out. This is often a long process, so don't leave it |
| sickness cover, and their wages would continue to be | | | | until a financial crisis is upon you. |
| paid if they became ill. For many that situation no | | | | Some also choose to tap into equity they have built up |
| longer exists. When my mother became ill, her | | | | in their home to tide them over this time. This could be |
| employment contract had just been renewed for a | | | | done: through an equity release scheme; by moving to |
| year. Her pay would have lasted only as long as that | | | | a cheaper property; or by using a 'Sell and Rent Back' |
| contract. | | | | company. |
| Sick pay generally goes down over time, rather than | | | | Be sure to check out the companies you deal with. |
| staying at the same level as previous earnings. Your | | | | Compare the end results carefully, and take financial |
| loved one may also lose any part of their pay that | | | | advice if you need it in order to understand the full |
| was based on commission, performance or overtime. | | | | implications. |
| If the person with cancer contributed a major part of | | | | Extracted from Their Cancer - Your Journey |
| their household income, and this is affected, problems | | | | ©2008 Anne Orchard |
| could arise. | | | | Worry about finances weighs heavily upon the |
| The most important thing, of course, is to face up to | | | | thoughts of the person who has cancer, and is a |
| facts as soon as they become clear. Plan ahead of | | | | realistic ever-present worry for their family. You can |
| time what you (or they, if you are not part of their | | | | best help by undertaking a thoughtful analysis of family |
| household) can do to deal with the problem. It seems | | | | finances, determining what assets can be used, what |
| ironic that just as expenses are probably rising, their | | | | outside assistance is available, and what adjustments |
| ability to cover those expenses is threatened. | | | | can be made to handle these burdensome obligations. |
| It is possible that the person with cancer has some | | | | Remember, you can only do so much with the |
| kind of insurance that covers this situation. They can | | | | resources that are available. This is a time for |
| dig it out and check the terms and conditions. Some | | | | practicality, not guilt. Do the best that you can, and no |
| policies cover illness, and others will pay out early if the | | | | more. |