My father has two life insurance policies on him with my mother as beneficiary. Can that be counted as an assets when we apply for Medicaid?
I have been paying the premiums the last few years. My mother has Alzheimer's and she's going downhill really fast. She needs more help than my sister and brother and I can provide and my father has Congestive heart failure and just survived colon cancer. He can't take care of himself much less her. They do not have the income to pay for assisted living. My mother mortgaged the house when she first started declining and we also had to file bankruptcy 2 years ago but managed to keep the house. I have been supplementing their income for the last few years. Should I just stop paying the premiums and let the policies lapse?