From today (July 28, 2017), cancer sufferers are to be given help to manage their finances through a new service from Lloyds Banking Group, in partnership with Macmillan Cancer Support. The service will be available to 30 million Lloyds, Halifax and Bank of Scotland customers.
The financial impact of cancer
For 45% of those affected by cancer, the financial impact of the disease comes as an unwelcome surprise. In fact, Macmillan’s Support Line is 25 times more likely to receive calls about financial issues than those related to death or dying.
With many patients having to take time off work and travel to hospital regularly for treatment, four in five people are, on average, £570 a month worse off as a result of a cancer diagnosis. Often people have to factor in numerous extra costs as well such as new clothes if they lose or gain weight and increased fuel bills if they are feeling the cold more due to treatment. In lots of cases, family members need to step away from work to care for a loved one too.
Banking on support
Lloyds Banking Group’s Cancer Support Team has been trained by Macmillan so they understand the financial impact of a cancer diagnosis and can offer bespoke support. The dedicated team can help Lloyds Bank, Bank of Scotland and Halifax customers with managing their personal banking, savings, loans, mortgages and credit cards. Support could include a mortgage payment holiday or waived fees and account charges for example.
Tracy Jameson (pictured), a Lloyds Bank customer who was diagnosed with ovarian cancer in 2016, says: “The joint service between Lloyds Bank and Macmillan made me feel confident that Lloyds Bank actually understood my situation and actively wanted to make it easier for me. They are financial experts and with the training they’ve had from Macmillan, they can tailor their help for people with cancer. You tend to be focused on your own treatment and in fact, you need someone watching the financial side in a supportive, kind way. And that’s exactly what they did.”
Look out for Tracy in a new Lloyds Bank ad promoting the service from Monday.
Find out more here
- If you’d like support, information or just to chat, call Macmillan free on 0808 808 00 00 (Monday to Friday, 9am–8pm) or visit macmillan.org.uk
- Lloyds Banking Group customers can call the Cancer Support Team on 0800 015 0016 (Monday to Friday, 9am–5pm)