My mother in law is in an assisted living facility in Orlando FL. She has this life insurance policy that the value is $5000. The cash value is approx $1450 and they are counting this as an asset and my not be eligible for the Medicaid Waver. She does not have any other assets except her Social Security that comnes each month. But they say that will put her over the $2000 amount. I dont understand why because as soon as she gets paid the $$ goes to the Assisted Living Facility. They said that if I got a Irrevocable Burial Contract that it would help. I have not clue where to get such a thing. Does anyone have information that they can give where to get one. I have never had to deal with anything like this before. Any help is appreciated. Thanks

Ginger, I would start with your local Funeral Director or Cemetary for their advice.

Hi Ginger. There is a simple answer to your question at the time of application for benefits you need to inform the worker that you wish to assign/exclude the policy for burial purposes. You have up to $2,500 that can be excluded.

Burial contracts are different. If you have burial contract the value of the contract is counted...unless you make it irrevocable. This is done with a simple form from the funeral home.

Hope this helps - Sean W. Scott, Esq.

Ginger - were you able to get the irrevokable burial contract, and were you able to get your mother-in-law on the Medicaid Waiver program? I hope so. Please let me know if there's any way I can help.