PR Newswire

Fifth Season Financial Offers ALS Patients a Solution to Financial Toxicity

Thursday, Apr 25, 2019

STAMFORD, Conn., April 25, 2019 /PRNewswire/ -- Amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig's disease, is a highly expensive condition to treat. According to the ALS Foundation for Life, the cost of the illness is estimated at $200,000 per year in its advanced stages. Recognizing ALS Awareness Month this May, specialty lender Fifth Season Financial has developed a solution to help alleviate the financial strain associated with ALS and other advanced-stage illnesses.

A progressive neurodegenerative disease that affects nerve cells in the brain and spinal cord, ALS often requires significant costs for medical care, equipment and home health caregiving, to name a few. Financial toxicity — or, the financial stress brought on by expensive medical treatment — is a very real threat for many facing the disease. Fifth Season Financial's Funds for Living and Giving (FLAG) program addresses this problem by leveraging an asset that many have, but don't always capitalize on: their existing life insurance policy.

"The physical and mental challenges that many patients experience when confronting ALS can be overwhelming in and of themselves, and making matters worse is the fact that the disease can be extremely costly to manage," said Fifth Season Financial president Adam Balinsky. "Coping with a serious illness can drain savings and rack up bills swiftly. Even if an individual has health insurance coverage, the economic toll — from pricey co-pays and out-of-network expenses to time away from work — can be difficult to bear."

Fifth Season Financial's FLAG program allows individuals to access a portion of the face value of their life insurance policy (as opposed to the cash surrender value) at a time when financial assistance is most critical. With no restrictions regarding how the advance can be used, clients are empowered to spend their funds in whichever manner best meets their needs.

Throughout the process, the individual's policy is kept in place. Fifth Season Financial handles all remaining premium payments and out-of-pocket expenses. Ultimately, the advance is repaid using the proceeds of the policy and, in more than 90 percent of cases, funds remain to pass on to beneficiaries.

"Our FLAG program provides access to funds when they are needed (funds for living), while maintaining a portion of the policy for the surviving family (funds for giving)," noted Balinsky. "Managing financial stress can help make the difference between unnecessary suffering and the ability to enjoy life, family and friends. When financial burden is mitigated, quality of life can be improved."

Fifth Season Financial is located at 2777 Summer Street, Suite 304 in Stamford, CT. They can be reached at (866) 459-1271 or by visiting For the latest news and updates, follow @5SeasonFin on Facebook and @fifth-season-financial-assistance on LinkedIn.

About Fifth Season Financial

Since 2007, Fifth Season Financial has offered a solution to combat the financial strain caused by serious illness. The firm's Funds for Living and Giving (FLAG) program utilizes an often-overlooked asset for people with advanced-stage illnesses – their life insurance policy and, in more than 90 percent of cases, funds remain to pass on to beneficiaries. Fifth Season has provided over $190 million in financial assistance to more than 500 patients across the United States. Clients are able to secure immediate cash advances with no restrictions and leave funds for their beneficiaries later. For more information, visit

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SOURCE Fifth Season Financial