4 Reasons Crowdfunding Is A Unique Financing Way For Organ Transplants

By Author: Safal Sisodiyaa
Total Articles: 4
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Organ transplants are complex and expensive medical procedures. They cost a lot and take time to complete. People diagnosed with organ failure need external financial assistance to tackle their health condition. This gets done in two ways, Loan, or Insurance. However, these methods are outdated and expensive. Hence, they only increase your worries if you do not plan their usage correctly. 
However, that is not the case with crowdfunding in India. Raising funds for medical emergencies through the public domain is a relatively new method in India. It is the most unique and beneficial way to finance organ transplants:
Easy to source a compatible organ
Organ transplants take time to complete because finding a replaceable organ that matches your blood group and body requirements is challenging. It takes months or years to source a compatible organ. However, tackle this through a fundraiser. Organ transplant crowdfunding lets you receive smaller donations from multiple people. Thus, by letting people know about your condition, you increase the probability ...
... of finding a compatible organ donor. 
Cost-free financing method
Loans require you to pay interest and processing fees, while Insurance needs you to pay premiums and deductibles. Both the methods come at a cost. What if you do not have Insurance or cannot make down payments for Loans? This is where crowdfunding helps significantly. Renowned crowdfunding platforms allow you to use their services without paying any upfront money.
Pay the crowdfunding platform for the funds you raise for your treatment. This gives you access to capital without bearing any additional cost. 
Receive funds within minutes
Be it Insurance or Loans, the financer needs time to process your request. Depending on the prevailing circumstances, this processing could take a week. The same cannot be said when receiving financial help for organ transplant online. Crowdfunding platforms allow you to create and publish your fundraising campaign in minutes. Enter necessary details and publish your campaign. If your story is genuine, receiving your first donation does not take long.
Excellent tax benefits
Wealthy people who claim to be philanthropists donate their money. Besides helping someone better their condition, donating money means enjoying tax deductions on their yearly payable tax. Donors get 50% to 100% tax deductions on contributions they make to a noble cause. This is an attractive benefit for the rich. 
Imagine a person needs to pay Rs. 2.50 lakh in taxes per year. But they earn an extra Rs.50,000 through their investments. If they donate this money to a noble cause like an organ transplant, they may only require to pay Rs. 2 lakh as tax in the said year.

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