Elder Law Answers
Can My Father Cash in a Life Insurance Policy Without Affecting My Mother's Medicaid?
My mother is in a nursing home here in California and is on Medi-Cal (Medicaid). My father...
Read moreIs the Cash Value of a Life Insurance Policy a Countable Asset for Medicaid
- November 18th, 2014
Q
My wife is the owner of a life insurance policy on our daughter. Will the cash value of the life insurance be exempt from our countable assets if I go on Medicaid long-term care?
A
Although I can’t be sure about the rules for all states, where I practice in Massachusetts the cash value would be countable. It also depends on what the cash value is. For details on the general rules regarding the effect of life insurance on Medicaid eligibility, click here.
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