My dad and I have placed my 82 YO grandmother in a nursing home. She had Medicare and Medicaid. Her life insurance policy has a cash value of a little over $5000. In order for her Medicaid to kick in and help pay for her care, my dad (the beneficiary) had to sign the policy over to a funeral home and make her final arrangements. We sent all the paperwork the insurance company asked for in to them time and time again only to be given the answer that her POA does not have the authority to sign her policy over to anyone else. If he were trying to cash it in I could understand. He is simply trying to get it out of her name so Medicaid will kick in pay for her care. The funeral home called and spoke with the insurance company. They told the funeral home he could do something, but of course they wouldn't specify what. We have an appointment with the attorney that wrote our POA in the next week. But until then, has anyone ran into this issue? If so, any advice? And maybe if anyone else is going through this situation, it may be a good thing for you to ask your attorney if there is a statute that allows you to make changes to life insurance policies out there. My attorney says there is not and he has been practicing for 40+ years.