If I’ve had a life insurance policyon my mother for 30 years, if she goes to a nursing home can they take the money when she dies?

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If I’ve had a life insurance policyon my mother for 30 years, if she goes to a nursing home can they take the money when she dies?

Asked on February 19, 2012 under Bankruptcy Law, Indiana

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

The best answer to your question depends upon who is the beneficiary under the life insurance policy on your mother? If you or some third person is the beneficiary, then when she passes, the insurance policy is not an asset of her estate and the nursing home cannot make a claim to this money.

However, if she is the beneficiary under the policy, her estate would have the policy and the nursing home can make a claim as to it. I suggest that your mother not be the beneficiary under the policy. If she is, a new beneficiary such as you should be placed on the policy.


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