Who should structure the annuity to make sure that it is done correctly?
Only licensed life insurance agents are permitted to sell annuities here in Florida. But not all life insurance agents are created equally. It’s usually best to find an agent that spends all or the majority of his time preserving his client’s assets prior to assisting them with the Medicaid application. The best agents are those that can perform two services: 1) asset preservation assistance using financial products and 2) application filing assistance. Medicaid Information Resource provides both of these services to our clients. Sometimes clients use life insurance agents or financial planners who have little or no experience with Medicaid. Oftentimes this inexperience results in mistakes and denied applications. These mistakes can prove costly. Make sure anyone you use has considerable experience in this arena.
