Medicaid Friendly Annuities

Medicaid Friendly Annuities

http://www.medicaidpatients.com/medicaid-friendly-annuities/

Problems sometimes are encountered when an agent of the provider of the annuity is not knowledgeable to the rules or the guidelines that must be followed in order for Medicaid to consider it as a friendly annuity. Some agents sell standard annuities to people, telling them that their assets will be protected, even though if this specific annuity is not considered Medicaid friendly. This usually happens because some agents just want to make a sale in order to get big commissions. Standard annuities typically have higher commissions versus Medicaid friendly annuities. Some agents deliberately sell people annuities that are never going to meet the criteria to be a Medicaid friendly annuity. They convince this people to buy these annuities by telling them of features that eligible annuities have. Liability becomes a problem and agents can always deny they said the wrong things to clients or they may not be connected with the providers anymore.