Critical Illness Insurance Eases Financial Burdens of Breast Cancer

As reported by the Vancouver Sun, The Canadian Breast Cancer Network has released a survey that “firmly places breast cancer as an economic as well as health issue.”

Of the 400 women surveyed, 80% say they have “experienced some kind of financial hardship from the disease.” This included loss of job leading to loss of staple income due to ongoing treatment and recovery and expensive medication. The network went on to characterize this unfortunate reality as a “double whammy” for the women battling the disease.

With no options available, 44% of respondents admitted they used their savings to cover the cost of the fight and 27% went into debt as a result, while some applied for disability during their treatment and 16% lost their jobs outright.

“I had to leave my job because I knew that physically, I would be unable to continue it,” Linda Glasier, who had been a nurse for 35 years, told the Sun. Once she left the hospital, she also lost her group insurance benefits and had to resort to personal income to cover the cost.

The most tragic point about her story is that she had to resort to her hard earned personal savings and immerse herself into debt which could have been avoidable. Critical Illness insurance is a living benefit that pays out a lump sum, in most cases, within 30 days after you are diagnosed with a covered condition, including breast cancer. The funds are designed to cover the cost of your treatment and  any out-of-pocket expenses you may incur over the course of battling many serious illnesses.

 

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