Can You Transfer a Whole Life Insurance Policy to a Term Policy Without a Medicaid Penalty?2022-01-272022-01-27https://www.eliselampert.com/wp-content/uploads/2019/11/screen-shot-2019-11-12-at-3.14.01-pm.pngElise Lampert, Attorney At Lawhttps://www.eliselampert.com/wp-content/uploads/2019/11/screen-shot-2019-11-12-at-3.14.01-pm.png200px200px
Most likely, no. It is no different from someone using cash to buy a paid-up life insurance policy. Medicaid would almost certainly treat this as a transfer of assets to the beneficiary of the policy.
For more information about how life insurance can affect your Medicaid eligibility, click here.