 Posted: Thu Oct 08, 2009 9:50 pm Post subject: My mom has a life insurance policy for 10,000.00. No face va |
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| This is a term policy, therefore has no cash surrender value. If she should ever have to become eligible for medicaid for her long term care needs would the beneficiaries be able to plan on using this money for burial and any costs that may have been left or needed upon her death? |
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jan1167
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| Posted: Fri Oct 09, 2009 12:12 am Post subject: |
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While Medicaid eligibility will vary among the states, I am not aware of ANY state that considers term life insurance as a countable asset. They really only concern themselves with permanent insurance contracts that have cash value.
So, this shouldn't affect anything regarding Medicaid eligibility!
InsTeacher 
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InsTeacher
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