                                 CODE OF VIRGINIA

CERTAIN TERM LIFE INSURANCE CONSIDERED RESOURCES (§ 32.1-325.01)

When making eligibility determinations for institutional or community-based care
to be paid for by the Department, the Department shall consider as an
uncompensated transfer all resources that are used by an applicant to purchase
any term life insurance policy that does not have a benefit payable at death
that will equal or exceed twice the sum of all premiums paid for such policy if
such policy was purchased within thirty months prior to the date of application
for assistance.
		The provisions of this section shall not apply to term life insurance policies
for pre-need funerals pursuant to § 54.1-2820, except that any benefits paid
under such policy in excess of such actual expenses shall be subject to recovery
by the Department of Medical Assistance Services for Medicaid payments made on
behalf of the deceased insured. The provisions of this section shall not apply
to any term life insurance policies purchased prior to the effective date of
this law.

HISTORY: 1993, c. 990.