After Dad died in 2012 mum took out a Life ins policy, a *guaranteed* one. Turns out its a Graded Whole Life policy. The death benefit amount is 5k. At the end of each yr there is a cash value (thought it was term policy) this being end of 2nd yr the cash value is $485.
Also in 2012 I applied for any help mum could qualify for, she has MO Healthnet on a spend down. They have asked for the cash value of the policy as well as other life ins questions. The thing is, as she is very sick right now with dementia that seems to be progressing at an extremely rapid, I went ahead and applied for additional help in anticipation of possible nursing home care (ONLY AFTER I hVe exhausted myself caring for her at home).
But this insurance thing has be worried, should I change the policy owner even though medicaid probably knows its current owner?