| By its very nature,
terminal illness is
devastating for both the
sick people and their
families and friends.
Unfortunately, the pressure
of worrying about medical
costs and trying to secure
health insurance that
addresses the needs of a
terminally ill individual
adds to the burden that
loved ones must endure
during an already difficult
time. Depending on how a terminally ill person decides to spend his or her last days, the costs can be enormous. At the lower end of the spectrum, a terminally sick individual may want to refuse treatment, and die at home. While this is an option, a more popular choice is to seek aggressive treatment programs that will allow a terminally ill patient to extend the length of his or her life as comfortably as possible. Without adequate medical health insurance, this second option may not be financially available to most of the people faced with making such a difficult decision. How frustrating it is to sit there, knowing that one of those miracle cures can extend your life for years -- and by then, who knows how easily science might be serving up new cures that cost little or nothing – only to be told you don't qualify for the treatment. |
| Some relief is available through
public health insurance plans such as
Medicare and Medicaid, even in cases
where hospice care is required. Hospice
benefits can be provided by Medicare if
the client is eligible for hospital
insurance under Medicare Part A; the
client’s doctor and the hospice director
sign a declaration that the terminally
ill person is expected to live less than
six months; the hospice where you will
receive care is a Medicare-approved
facility; and the beneficiary signs away
his or her regular Medicare coverage as
it relates to his or her terminal
condition in favor of hospice care.
Conditions not related to the terminal
illness are not affected by signing the
statement. Even with Medicare-provided hospice palliative care, terminally ill patients will still usually be responsible for their room and board costs but many other fees are paid under the Medicare plan. For example, a hospice Medicare beneficiary would not have to pay for: physicians’ visits and care; nursing care; equipment such as wheelchairs, walkers, or monitoring devices; standard hospital supplies such as catheters and bandages; pain killers and symptom-controlling medications; short-term respite or hospital care; homemaker/aide services; physical, occupational or speech therapy. Emotional or spiritual counseling may also be available to patients and their families. If traditional health care insurance is not enough to cover the health-related expenses, looking to life insurance policies may provide additional financing options. Accelerated benefits (also called living benefits) and viatical settlements could be the answer to the financial woes of a terminally ill individual. Accelerated or living benefits are life insurance monies paid to life insurance policyholders before they die. A few policies include accelerated benefit options, but if yours doesn’t, you can ask your insurance provider about adding the appropriate provisions to new or current policies. The amount of money available as early payment with accelerated benefits ranges according to what kind of policy you have. However, the amounts are typically between one quarter of the total policy. There are also limited circumstances under which living benefits will be awarded, and these also vary by policy. Speak to your provider to see what options are available to you. Viatical settlements are funds you receive from selling your life insurance policy to a viatical settlement company. Life insurance policy holders who sell their benefits to a viatical settlement company will receive a lump sum payment equal to a percentage of the benefit that would be awarded if the policy holder had died. Turning to accelerated benefits or viatical settlements does provide a good source of quick money to cover sudden or unanticipated costs, but don’t jump into either prospect without considering the long-term effects of what you are choosing to do. If your life insurance policy is a central part of your estate plans or is something to pass on to family members, using accelerated benefits or viatical settlements will have a big impact on your future financial situation. Whatever you decide to do, it is important to make sure you are fully informed about your options and the possible consequences. Ask a lot of questions and don’t be satisfied until you get appropriate answers. Remember that policies offer many options so be certain to choose the best policy for your family. Most importantly, don’t sign anything until all of your questions and concerns have been addressed. Now, if you have cancer then I beg of you to try reading about the proton beam cancer treatment. I have personally seen too many people with cancer have their prognosis turned completely around in less than 3 months. I have interviewed most of the top officers and found no hidden artifice in their agenda. For some reason, many doctors refuse to investigate this program and actively throw every roadblock they can think of in front of patients considering this treatment. |
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