Can Nursing Home Take Life Insurance?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaIf by take life insurance, you mean the death benefit proceeds assigned by the beneficiary or proceeds from the beneficiary, yes you can that. And keep in mind that the life insurance death benefit proceeds generally pay tax free lump sum amount. Life insurance proceeds can pay for numerous senior items during retirement.Answered on May 24, 2013+01+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.If you are going through a Medicaid spend down, the nursing home can take the cash value in your life insurance policy down to an amount that will leave you with the allowable amount of assets. You have the right to purchase a final expense policy or a burial policy, so it may be possible that your life insurance policy can be designated as this permitted final expense policy.Answered on May 25, 2013flag this answer
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