Transamerica lost no time in expanding its recently released guide for advisors and clients on what to do after a cancer diagnosis.
The guide, “Planning to Outsmart Cancer,” was released in October and provides resources for support, questions that clients should ask their advisors, and suggestions for advisors for reviewing and updating financial plans and providing support for their clients. The guide is part of Transamerica’s “Wealth + Health” initiative.
A tool kit for clients now has been added to the guide. The Toolkit for Planning to Outsmart Cancer provides questions clients should ask their advisor and doctors, and guidance on where clients and their loved ones can find help and support for both their financial planning and health needs. The toolkit provides patients with steps for working with a financial professional to create a financial strategy after a cancer diagnosis.
It also offers critical information and insights about cancer prevention, diagnosis, treatment, expenses and emerging discoveries. The guide introduces patients and their families to oncology terms, information on what causes cancer, how cancer is diagnosed, and the steps that follow a cancer diagnosis.
“One immediate step to take following a cancer diagnosis is to expand your support team. These are the people who will help you gather the information needed to make informed decisions. It’s important to avoid the temptation to deal with everything alone,” said Dr. Bill Lloyd, Transamerica’s health director and author of the report.
“For example, many people don’t immediately think their financial professional would be in their circle of support. But unplanned expenses like those associated with a cancer diagnosis can be a huge source of stress and anxiety. A good financial professional will help you develop a financial strategy to get you through your cancer treatment and beyond,” Lloyd said.
The guide is designed to help patients organize their thoughts, feelings, and corresponding actions in many areas, including how a cancer diagnosis can impact family members, a wide range of financial considerations, and cancer survivor tips, Transamerica said.