The devastating emotional consequence of severe illness is something we hope to never have to experience; either for ourselves, family or friends. But a recent report published by children's cancer charity CLIC Sargent revealed that the financial effects of cancer and young people in the UK should also be a cause for concern.
On average, the report revealed that parents and young people spent £367 and £277 respectively on extra expenses every month as a result of a cancer diagnosis and its treatment - amounting to an additional annual spend of £4,400 for parents and £3,325 for young people.
However, the most worrying finding was that two thirds of parents surveyed had built up debt as a direct result of the additional costs of childhood cancer, with 6% of those forced to borrow money through through high interest, short-term payday loans to make ends meet.
Speaking in the report, Lorraine Clifton, chief executive of CLIC Sargent, said: 'Many families told us how their money worries nearly brought them to breaking point at a time when they were already dealing with the life-changing impact of childhood cancer.'
After the shock of cancer diagnosis, the cost of caring for children with cancer is often unexpected. These costs may include travel to vital cancer treatment at specialist hospitals often miles from the family's home, additional childcare for siblings and increased food and heating bills to name just a few.
The government does provide some statutory support known as Disability Living Allowance (DLA), a tax-free benefit for children and adults with disabilities to help with the extra costs of living with a disability, but it is often not enough to cover the rising costs of care, particularly when children are involved.
In some cases, private health care provided through medical insurance may offer families a small peace of mind in such difficult circumstances. However, it is important for families to be certain what is covered in their medical insurance policy before purchasing, as different insurers offer different levels of cancer cover. In some instances private health care may mean treatment at a time and place which is most suitable for your child and family. In other instances, the NHS and private hospitals will have access to different drugs and treatments.
Those considering purchasing private medical insurance as a result should always consult an independent private medical insurance advisor to see whether specific illnesses are covered. A medical insurance broker can help to make an effective comparison of various medical insurance policies available, such as individual or whole family.
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