If you are the owner of your parent's insurance policy, is the policy not an asset of the elder?

thank you for the quick response! Just triple checking my mom's recertification paperwork and was just second-guessing myself if her life insurance had to be listed as a resource/asset and it doesnt! Thank you for re-confirming!

Correct. I own the policy for my sister, who is in a group home, so it is not counted against her Medicaid and will not affect her benefits. I am also the beneficiary, so I can use the money to bury her.