LFS is a proud partner of AMP’s Cancer Council Pro Bono Program.
The AMP Cancer Council Pro Bono Program – established in 2010 - is a partnership between AMP licensees, AMP Foundation and the Cancer Council to provide free financial advice to families affected by cancer.
Through the program, people affected by cancer who cannot afford financial advice are matched with a qualified adviser, who donate their time and financial expertise at no cost. Since the program’s inception, assistance has been provided to more than 4,000 people and their families.
The importance of the program
People diagnosed with cancer often face complex financial issues while battling their illness. This is not surprising given the average cost of cancer can amount to 3.9 times the annual household income. In a report prepared for Cancer Council, Access Economics estimated the average cost of cancer diagnosis to be almost $50,000.
The high costs associated with a cancer diagnosis often causes enormous stress for patients and their families. Over the course of their illness, important financial matters may need to be addressed including:
- accessing Centrelink benefits
- applying for early access to superannuation and insurance benefit
- developing a strategy for investing lump sum insurance payouts
- developing a budget and ensuring a regular cash flow
- planning for the financial future of their family
LFS is proud to be a partner and support our community with this great cause. You can read more about the program here.