My dad is on Medicaid and in a nursing home. Can I have a life insurance policy on him if I am the owner and it not affect Medicaid?

I have a policy on someone so I can bury the person when the time comes. I am the owner, pay the costs and am the beneficiary on that person. It is a term life insurance policy and required no physical. I also work with Medicaid eligibility. This type of arrangement would have no effect on that person's eligibility if Medicaid were need.

If you are the owner of the policy & paying the premiums yourself it will not affect medicaid. They only look at your father’s financials, NOT yours.

I agree with Tothill. A good policy you need a physical which Dad would not pass. Maybe one of those TV policies but there is an age limit.

Do you currently hold an insurance policy on Dad and if so what type?

If you do not have a policy on Dad then it is very unlikely you would be able to get one now. Or if you did find a term policy that would cover him the rates would be very high.

I have no idea of the implications regarding Medicaid.