Nearing End Of Life
How To Cope With Financial Issues: An Overview
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If you are insured: Your health insurance will continue to cover medical treatments so long as they are medically necessary. Most coverage includes palliative care -- the relief of pain and other symptoms.
If you are uninsured, there are techniques for obtaining the care you need (see the Survivorship A to Z document in "To Learn More"). If you have limited income and resources in addition to a house and car, you may qualify for Medicaid or be able to qualify for Medicaid (Medi-cal in California).
If you have a money crunch, we provide comprehensive information for maximizing your resources (including information about how to borrow money from family and friends), how to deal with creditors, and new uses of your assets.
If you have credit cards with a death benefit, you can increase the amount you leave your heirs by only paying the minimums due each month, and by charging or writing checks on the accounts to pay your medical costs and other items. The Wall Street Journal reported on one fellow who used a check written on his credit card to pay for a down payment on a car. He obtained credit life insurance on the balance due the car company. When he died, his wife received the car free and clear thanks to a combination of the death benefit on his credit card and the credit life insurance.
If you decide to stop treatment and instead move to Hospice care, insurance covers that as well. Hospice care is provided on a sliding scale basis or for free.
Financial assistance for children and families of people with a life expectancy of six months or less may be available through National Association for the Terminally Ill. Among other assistance, financial assistance may be available for telephone bills, home/auto repairs, electric bills, rent/mortgage, grocery vouchers and medications. To learn more, see: www.terminallyill.org .
For additional information, see:
- Uninsured
- Medicaid
- Health Insurance
- How To Deal With A Financial Crunch Or Crisis
- How To Obtain Money From A Life Insurance Policy
- New Uses Of Assets
- How To Borrow Money From Family And Friends
- How To Raise Money From Friends, Family And Community (Fund Raising)