Can Medicare Take Your Life Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Medicare does not take life insurance from anyone. Medicare is a healthcare insurance program for those who have paid into it over the years (and some others). Medicaid is an assistance program for those who have low income and low assets. If a person applying for Medicaid has term life insurance, it will not matter. If the Medicaid applicant has permanent life insurance with high cash value, there may be a need for the policy owner to take actions with the policy to enable them to be approved for Medicaid.
    Answered on August 10, 2013
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