Fifth Season Financial Offers Breast Cancer Patients a Solution to Financial Hardship

Monday, September 30, 2019 Cancer News
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STAMFORD, Conn., Sept. 30, 2019 /PRNewswire/ -- According to the National Breast Cancer Foundation, one in eight women will be diagnosed with breast cancer in their lifetime. Even with health insurance, the costs associated with the disease, coupled with the potential loss of income during treatment, can be overwhelming. Recognizing Breast Cancer Awareness Month this October

, specialty lender Fifth Season Financial has developed a solution to help alleviate the financial strain associated with breast cancer and other advanced-stage illnesses.

Financial toxicity — or, the financial stress brought on by highly expensive medical treatment — is a very real threat to many patients facing a breast cancer diagnosis. Fifth Season Financial's Funds for Living and Giving (FLAG) program addresses this problem by leveraging an asset that many already have, but don't always capitalize on – their existing life insurance policy.

"Coping with a serious illness can drain savings and swiftly rack up bills," said Fifth Season Financial president Adam Balinsky. "So many lives continue to be affected by breast cancer. Personally, the disease hits close to home for me. The economic toll — from pricey co-pays and out-of-network expenses to time away from work — can be difficult to bear. At Fifth Season, we're here to help lessen that burden for patients."

Fifth Season Financial's FLAG program provides access to funds when they are needed (funds for living), while maintaining a portion of the policy for the surviving family (funds for giving). Individuals can access a portion of the face value of their life insurance policy (as opposed to the cash surrender value) at a time when financial assistance is most critical. With no restrictions regarding how the money can be used, clients are empowered to spend their funds in whichever manner best meets their needs.

Throughout the process, the individual's policy is kept in place. Fifth Season Financial takes over all premium payments – helping to reduce the bills that led to financial toxicity in the first place. Ultimately, the advance is repaid using the proceeds of the policy and, in more than 90 percent of cases, funds remain to pass on to beneficiaries.

"Our goal is to help clients maintain the ability to enjoy life, family and friends," noted Balinsky. "When financial stress is mitigated, quality of life can be improved."

Fifth Season Financial is located at 2777 Summer Street, Suite 304 in Stamford, CT. For more information, call (866) 459-1271 or visit www.fifthseasonfinancial.com. Follow @5SeasonFin on Facebook and @fifth-season-financial-assistance on LinkedIn for the latest news and updates.

About Fifth Season FinancialSince 2007, Fifth Season Financial has offered a solution to combat the financial strain caused by serious illness. The Funds for Living and Giving (FLAG) program utilizes an often-overlooked asset for people with advanced-stage illnesses – their life insurance policy and, in more than 90 percent of cases, funds remain to pass on to beneficiaries. Fifth Season has provided over $190 million in financial assistance to more than 600 patients across the United States. Clients are able to secure immediate cash advances with no restrictions and leave funds for their beneficiaries later. For more information, visit www.fifthseasonfinancial.com.

Press Contact: Kelly LeeCo-Communications914-666-0066klee@cocommunications.com

Cision View original content:http://www.prnewswire.com/news-releases/fifth-season-financial-offers-breast-cancer-patients-a-solution-to-financial-hardship-300927447.html

SOURCE Fifth Season Financial



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