HI!
I have not had any cases involving whole life insurance.
According to information on the web:
Term life insurance, which only pays out to your dependents in the event of your death, is not an asset. Whole life insurance and other types of life insurance
with a cash value component are considered assets because you can withdraw funds from your policy while you're alive.
So we have to assume that the whole life insurance value is considered an asset.
Tatiana
Tatiana Fassieux
Passages HICAP
25 Main St, Rm 202
Chico, CA 95928-5388
530-898-6717
From: State grantees working on MIPPA <xxxxxx@lists.ncoa.org>
Sent: Thursday, December 23, 2021 4:34 PM
To: xxxxxx@lists.ncoa.org
Subject: Daily digest for xxxxxx@lists.ncoa.org
|
Questions about MSP applicants - Brandy Bauer
(23 Dec 2021 08:54 EST) |
Questions about MSP applicants
by Brandy Bauer (23 Dec 2021 08:54 EST)
Reply to list
OK, MIPPA hive-mind…hoping you can assist with these questions we’re trying to help the Medicare-Medicaid Coordination Office answer.
(Actually, I hope many of you are off for the holiday already and wait to respond when you come back!)
Do you have a rough sense of what percentage of those you help with LIS/MSP applications have whole life insurance?And do you have any guess/knowledge about what percentage of those you help to apply for MSP do
not go on the receive the benefit (either because of not qualifying, not ever submitting documentation, etc.)?
Would love to hear from you on either of these as we get a better sense of some of the barriers to enrollment across the country.
Thank you and happy holidays!
Brandy Bauer (she, her, hers)
Director, MIPPA Resource Center
571-527-3911
ncoa.org | @NCOAging
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