Some medical expenses can be overwhelming, especially if the full cost or part of the cost of a procedure is not covered by Medicare or insurance policies. But, there are other options that can help you cover those expenses.
Medical loans are there to help those who need to get treatment safely and affordably. A medical loan, a type of personal loan, is commonly acquired to use for medical care payments. It is offered by traditional banks and lenders, and usually not tied to any collateral. It can be a good option for people who do not have private health insurance.
The same way as any other form of personal finance, borrowers of medical finance must apply for a loan first. Upon approval, you get the money upfront and make repayments over time, together with any subsequent interest and fees.
Medical loans can be used for medical expenses and living costs of recovery while taking time off of work. It can also be used to cover the cost of hospital expenses, specialist appointments, medical equipment, and even travel expenses.
Any elective surgeries or optional procedures performed at a private hospital or clinic.
To cover excess charges or those that aren’t covered by insurance.
To purchase specific medicines, treatments, or drugs.
For recovery or treatment of specific conditions that require medical equipment or devices.
To cover the cost of regular visits to a specialist.
To cover the costs if you stay in the hospital, and for specialised procedures such as X-rays or MRIs.
To cover the costs of travel and accommodation for a medical treatment.
If you don’t have suitable assets (e.g. a house or a car) to secure a loan against, Cigno can still help you find an appropriate unsecured loan.
You can offer a vehicle, real estate, or other valuables as security for a secured personal loan. It could increase your chances of approval and possibly lower your rate.
Are you looking for a quick loan to help you pay off your medical expenses? Get the money you need and pay it off quickly with a short-term cash loan through Cigno.
Borrowers should consider the following before taking out a medical loan:
Enquiring through Cigno is super-fast and should take you less than 5 minutes.
Through our partner, you get connected instantly to a provider.
Get paid fast during standard banking hours. *Subject to the eligibility criteria and the disbursement policy of the partner that we connect you with.
We will strive to connect you with a partner who can help with a Medical Loan Financial Solution.
Some medical loans won’t approve you if you are hoping to use the funds for cosmetic surgery, however, at Cigno, we will strive to connect you with a partner who can help with a Medical Loan Financial Solution.
At Cigno we believe a person’s financial history doesn’t always reflect their current or future situation. We will strive to connect you with a partner who can help with a Medical Loan Financial Solution.
Some lenders may require a credit check before approving a loan, however, at Cigno, we will strive to connect you with a partner who can help with a Medical Loan Financial Solution.
At Cigno, we will strive to connect you with a partner who can help with a Medical Loan Financial Solution.
For more information, check out our FAQ’s.