Ask Larry

What Should I Do About My Whole Life Policy?

Yes, I am age 81 and I am on Section 8 and medicaid..I fould out by accident my Life Insurance is Whole life Not Term...The Value is $3,885.34..Do I Cancel the Policy... Surrender Ownership. .spend down or......Transfer ownership to a funeral home...


I'm sorry, but I am unable to answer your question. I am only knowledgeable on Social Security matters, not section 8 nor Medicaid. You will need check with the agencies that handle those benefits, and/or consult someone with expertise in those programs.

Best, Jerry

Oct 23 2016 - 8:45pm
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