Key takeaways
- Being diagnosed with cancer, going through treatment or looking after someone with cancer can often be a trigger for money worries
- Seek financial support as soon as you can after your diagnosis, involving your human resources team at work, if you have one
- Whether you are employed, self-employed or not working right now, it’s important to understand what you are entitled to
- Finding trustworthy online resources is vital but can also be challenging. Our aim at Perci Health is to make that easier for you.
A cancer diagnosis can often lead to money concerns. You might provide the main source of income in the household, or be self-employed and unsure when you’ll be able to return to work or what you’re entitled to. Supporting someone with cancer can also put pressure on finances. Unfortunately, financial anxiety adds another layer to the – already significant – anxiety experienced as a result of a cancer diagnosis and treatment itself. The good news is that there is a surprising amount of support available, if you know where to find it. In this guide, we offer advice from our Lead Cancer Nurse Specialist, Rachel Rawson, as well as reliable resources across nine different categories.
80% of people who have cancer experience increased financial pressures, costing them around £570 a month in lost income or increased outgoings
Macmillan
When is the right time to seek financial support?
It’s never too early to seek financial support after a cancer diagnosis. As soon as you can, get an idea of what your treatment plan looks like, how long it might last and what to expect. This can help you – together with your Human Resources or People team, if you have one – to feel in control. If you’re self-employed or not in employment, there are grants and benefits available to help relieve some financial pressure, so make working out what you’re entitled to, a priority. It can be really hard to work through this when you are going through a diagnosis and treatment, so having someone to help you, where possible, is key
For a broad overview of cancer and finances, read this article from Macmillan. Macmillan also has a dedicated financial advice team, who you can contact on 0808 808 00 00.
Knowing what you are entitled to right at the beginning can help you to gain some control over your finances. It’s never too early to seek support.
Rachel Rawson, Lead Cancer Nurse Specialist
Help from your employer
A good place to start is to set up a meeting with your Human Resources department, if you have one. They will be able to explain what financial support you can expect – including statutory sick pay – and for how long, and tell you about any additional policies that might help you.
From the day you’re diagnosed with cancer, you automatically meet the disability definition under the Equality Act 2010. This protects you against discrimination, which means you are legally entitled to fair treatment in recruitment, promotion and pay. The following links can help you start to understand your rights and the pay you might be entitled to.
- Macmillan has a comprehensive article about employment rights here, and another about sick pay entitlement, here.
- Find out how to claim Statutory Sick Pay (SSP) from GOV.uk, here.
- The government’s Access to Work scheme can help you get or stay in work if you have a health condition, including cancer. Find out more here.
- You can apply for an Employment and Support Allowance even if you are self-employed, unemployed or a student. More about that here.
Macmillan has a dedicated Work Support Service for anyone affected by cancer who is employed or self-employed.
Help through benefits
Claiming benefits may be the last thing on your mind, but – if you are eligible – it’s important to apply as soon as you feel able. Several factors will be taken into account, such as your age, income and savings, and how much National Insurance you’ve paid. The benefits you can claim will depend on your situation and any benefits you’re already receiving.
This comprehensive article from Macmillan outlines, in detail, each benefit you might be entitled to if you are unable to work or on a low income. Macmillan also offers a helpful benefits calculator and has a team of welfare rights advisors you can contact on 0808 808 00 00.
Help through grants
Grants are usually a one-off payment to help with certain costs, awarded by the government or a local council, a charity or private organisation. As someone living with or beyond cancer, you may qualify for a number of grants, so it’s well worth doing some research and applying. The links below are a good starting point:
- Macmillan’s list of grants can be found here, and information about the charity’s own means tested grants, here.
- Search for charitable and educational grants here.
- Charis Grants is the administrator for many funds and grants on behalf of major companies, authorities and charities. Find their list of available grant schemes here.
Help through insurance
Insurance can protect you against financial loss in the event that you become too ill to work, or will provide for your family if you die. Securing health or life insurance after a cancer diagnosis can be costly, but other types of insurance, such as home or car insurance, shouldn’t be affected. The links below are a good starting point for your research.
- For general information about insurance while living with or beyond cancer, we recommend these articles from Gocompare and Macmillan.
- Cancer Research UK offers a comprehensive look at life insurance here and health insurance here.
- Find out how to claim against an existing income protection policy here. Find out whether you can set up a new policy here.
- To learn whether you need to tell your car insurer about your cancer diagnosis, read this.
- Several companies offer travel insurance to people living with cancer, including AllClear, Staysure and InsuranceWith. Remember to shop around for the best quote.
Help with energy bills
If you are having cancer treatment, you may be at home more, may need to turn up the heating to help manage the side effects of treatment, and might be moving less and coping with fatigue. This means your energy bills can increase at a time when you may be unable to work or have a reduced income.
There are three main ways to reduce or get help with bills if you are living with or beyond cancer: reduce your tariffs, apply for grants and increase the energy efficiency of your home. A bit of research can make all the difference; the links below should help:
- Find a complete list of all funds and schemes available to help people pay energy bills, from Citizens Advice, here.
- Get trusted advice around energy bills, specifically for those living with or beyond cancer, from Macmillan, including contact information for their dedicated energy advisors, here.
- Marie Curie also offers a comprehensive list of support available, specifically aimed at those with a terminal diagnosis and their carers. Find that here.
- A key way to save money for energy is to reduce other bills. Find out how to reduce phone bills, reduce water bills and apply for a council tax reduction.
Help to pay your mortgage or rent
Mortgage lenders have a code of practice that says they should be sympathetic if you have financial difficulties and should try to help. That might mean reducing or stopping your payments for a short amount of time, allowing you to only pay the interest for a set period, extending the loan duration, or reviewing your interest rate. So the first step to securing support from your lender is to speak to them. Lloyds Bank and Nationwide have both teamed up with Macmillan to offer dedicated help to customers affected by cancer. Find some useful information in the links below:
- Read information about getting, insuring and repaying a mortgage while living with cancer from Cancer Research UK, here.
- Understand how a cancer diagnosis can affect a mortgage application here.
- Find out about the government’s Support for Mortgage Interest scheme, which might be able to offer financial assistance for mortgage payments and home improvement loans, here.
If you rent your home and are having difficulty making payments, you might qualify for financial support. Find out here.
Help to pay debts
Worrying about debts when you are diagnosed with cancer can feel overwhelming. Some banks and credit card issuers provide bespoke advice services for their clients who have had a cancer diagnosis, so contacting them directly is a great place to start. The following links offer information and guidance for dealing with debts and where to get support:
- Read Macmillan’s debt advice for people with cancer, including types of debts you may not have considered, here.
- Cancer Research UK offers excellent advice for applying for a credit card or loan while living with cancer. Read that here.
- Find out how bailiffs should treat you if you’re vulnerable, here.
Help if you’re supporting someone with cancer
You are a carer if you give any unpaid help and support to someone with cancer who could not manage without your help. This includes a partner, family member, friend or neighbour. The main financial benefit for carers is Carer’s Allowance. The links below will help you to understand whether you qualify for this or for other types of financial assistance, including grants:
- The NHS offers a simple list outlining the benefits you might be able to claim as a carer, as well as information about the Carer’s Assessment. Find that here.
- Find out more about Carer’s Allowance from Citizens Advice and Macmillan.
- Learn about the grants you might be entitled to as a carer, here.
Carers UK also provides a dedicated support service, accessible by phone or email. Find out about that here.
Other types of help
- Apply to your council for specialist equipment for your home, here.
- The 3H Foundation offers holiday grants for people with a disability and also respite breaks for carers. Find out more here.
- Learn about medical exemption certificates, so you don’t have to pay for prescriptions, here.
Perci’s specialist cancer nurses have a wide-range of experience in the physical, psychological and practical impacts of cancer and can point you in the direction of further support, should you need it.
While we have ensured that every article is medically reviewed and approved, information presented here is not intended to be a substitute for professional medical advice, diagnosis, or treatment. If you have any questions or concerns, please talk to one of our healthcare professionals or your primary healthcare team.