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Finances and Insurance

Families can sometimes find themselves in crippling financial circumstances if a loved one who has been diagnosed with blood cancer, and/or their carer, is also a major breadwinner.

Read in this section about the possibility in some cases of accessing insurance and superannuation early to provide some financial relief. Centrelink benefits may also be available to help.

Practical implications of a diagnosis

Being diagnosed with a potentially life-threatening illness generally will leave you in a state of shock and disbelief. You will probably feel like your life has been completely turned upside down. At this very difficult time, you and your family members will face several practical and financial considerations.

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A financial stocktake

When you become aware that you may lose your income or suffer a reduced income as a result of the ill health of you or an immediate family member, the first step should be to take a quick ‘financial stocktake’.

Read More about: A financial stocktake

Seeking help

If you expect to lose all or most of your income or your partner’s income, the first organisation to contact is Centrelink, a division of the Commonwealth Government Department of Human Services.

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Managing your money

Managing your money efficiently, or making your money work for you, is one of the most important contributors to a happy and successful lifestyle. This becomes even more important when income and expenses are affected by a life-threatening disease.

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Accessing superannuation

Superannuation is designed to provide for your retirement, so you can generally only access it when you reach age 65. However, there are some very limited circumstances where it may be available earlier.

Read More about: Accessing superannuation

Future planning

Once you start to recover from your treatment you will need to look ahead and think about getting life back on track. There are likely to be hurdles to cross but help is at hand and you should adopt a positive attitude to the future.

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The family home

Once you are in a position to review your lifestyle and think about the future it may be appropriate to consider the suitability of your family home.

Read More about: The family home

Legal matters

This section applies equally to all members of the community, not just those with a blood related disease or their loved ones.

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Organisations that can help

This listing provides contact details for organisations that provide help to patients, carers and their families. The information is correct at the time of printing but is subject to frequent changes and you should check the latest details.

Read More about: Organisations that can help