When is a small whole life policy considered an asset under 10,000 that will not earn any cash value for at least 2 years. And they are on Medicaid and receiving in home care, become a concern. Are there options to keeping the policy for her 2 disabled adult children. To help in settling after death matters. And does it have to be turned in as an asset even though there is no cash value yet. Planning for choices in alternative issues for this small policy? Is it worth having it for the time being. How to and when to make another choice. Is it going to harm her or her children at the beginning stages of such a policy?
both children are learning disabled ,with physical illnesses too. A huge burden and obligations a mother must do. Definitely not enough but will be everything to them that she did everything she could living on a disability check SSI. You Go Mom!!! Just a little could mean so much.......
Even if there was some cash value, Medicaid does provide some exceptions to hold the policy if it's for funeral expenses. But, the Medicaid agency you are working with is the best source of answers for some of these questions, as each state has its own set of rules, etc.
Best wishes.