Smart Move: Healing Without Financial Worries

by Patrick Miller, CBLife, The Club’s Insurance Partner

If you are diagnosed with cancer, you have two battles ahead of you: to get well and to stay solvent. Fortunately, you can prepare for the latter so it doesn’t impede the healing process. Worrying about paying your bills robs you of energy you need to focus on getting better. Unfortunately, most of us feel rather secure in knowing that we have a good health insurance policy in place. We vaguely understand that mysterious “Maximum Out of Pocket” cost on our health insurance policy, and fortunately it isn’t enough to break us financially. What we are unprepared for are the non-medical costs that we will incur over and above our daily living expenses (mortgage or rent, utilities, food, taxes, etc.). Those bills can loom especially large if you’re forced to miss workdays or go on disability, which can significantly cut your income by as much as 40 percent.

Here are a few of the “hidden costs” that you are likely to incur:

  • Transportation Costs: This includes expenses you may have due to traveling to and from the doctor’s office and/or treatment facility, whether it is by car, bus, train or airplane. This category may also cover the price of hotels or other lodging needed.
  • Family and Living Expenses: This includes costs related to running your household and caring for your family during your cancer treatment, such as childcare, elder care and coping support.
  • Caregiving, At-Home Care, and Long-Term Care: These include additional costs of the care that a person with cancer may need, such as fixing meals or driving the patient to each medical appointment. It could also include extended nursing care at a specialized facility.
  • Employment, Legal, and Financial Issues: These include the costs that arise when a patient needs professional guidance on employment, legal or financial issues related to their diagnosis. This includes topics including addressing loss of wages of the patient or caregiver, learning about employment rights under the law, figuring out medical expenses during income tax filing, or writing a will.

You can give yourself piece of mind that you will have the money to pay these hidden expenses with a critical illness policy from our Club Partner, CBLife. You can purchase a policy that is paid to you on the diagnosis of cancer or a number of other financially devastating illnesses — money you can use where you need it. Wouldn’t you rather have a check for thousands of dollars rather than a get-well card?

CBLife is The Club’s partner for two areas – critical illness insurance and retirement income Currently the Club offers two CBLife products: the Security Builder Plan and a guarantee issue critical illness plan. Ask your Club Counselor for details.
You can contact CBLife at (888) 443-8829.