Is the Cash Value of a Life Insurance Policy a Countable Asset for Medicaid

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? 

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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