When you’re dealing with a serious or terminal illness, many peripheral problems tend to rise, some of them being of a financial nature. Your bills don’t stop mounting, and now you have the added weight of prescriptions, treatments, and possibly even medical equipment to pay for. You have the burden of preparing your loved ones for what may be coming. On top of this, you’re suffering debilitating discomfort.
While there is no uniform way to handle the hardships associated with serious maladies, but there are things that can ease your tribulation some. Continue reading to learn tips for dealing with a serious or terminal illness.
Use your life insurance policy
You may have heard someone declare before that they cannot “afford” to get sick — perhaps you yourself made that statement before. That cliche scratches at the surface of deep-seated truths about sickness — it’s expensive. Illness can put you in severe financial straits because it sidelines you from work and causes steep expenses.
In addition to the health-related expenses that you accumulate, bills at home are likely to increase, as well. Debilitating ailments usually equate to more time being spent at home which means that you’re using more electricity and water than normal. The financial strain of being sick comes in second only to the physical torment that it causes.
One way to mitigate the financial strain put on you is to take advantage of your life insurance policy. You may have purchased it to take care of your loved ones after you pass, but it can actually take care of you right now.
Through a viatical settlement, you can sell your life insurance policy to a company for less than its total value and get money right away. These settlements are for terminally-ill people whose expenses have outgrown their ability to pay them. While this isn’t the most ideal option, it will provide you with the funds to take care of medical and living expenses.
Use your home equity
Another thing that you can do to make sure that you have the necessary funds to care for yourself and handle your rising bills is to get a reverse mortgage. A reverse mortgage is a loan that you don’t have to pay back. You borrow money from your home’s equity, and the loan is repaid when you pass, move away, or sell your home.
Just remember, when you are a homeowner, you are also a business owner. Take advantage of your business. While it isn’t a viable solution for everyone, if you’re 62 or older, then you should give it some consideration.
Try natural remedies for some symptoms
One thing that is underestimated about terminal illness is the distress that is put on the body by the treatments themselves. You’re on medications for the treatment of your ailment, for the pain caused by the ailment, and to counteract the side effects of other medications.
Not only does all of this medicine mess with your body’s chemistry, but it’s also expensive. There are natural supplements that you can take that may help with some of your symptoms or counteract the side effects of your prescription drugs. In most cases, they’re less expensive than prescription drugs.
Cannabis has been proven to be a bit of a cure-all within these past few years. It is good for chronic pain and a host of other ailments. If you’re not a fan of a pot or it’s illegal in your state, you also have options. Cannabidiol (CBD) is not the high-inducing compound in cannabis, and cbd oil extraction from hemp yields pure CBD. In its pure form, it’s good for everything from combating depression to treating chronic pain and nausea without altering your mind state. Like most natural extracts, it isn’t associated with any harsh side effects.
One of the hardest things to deal with in life is a serious or terminal illness. Such illnesses cause unbelievable stress and agony for the person suffering as well as their family members. There is no playbook for dealing with many of life’s issues, and debilitating ailments definitely fall into this category. Keeping these tips in mind, you’ll have many options to taking care of yourself both physically and financially.