Articles of Interest

It is becoming commonplace for assisted living facilities to refer veterans and their families to financial advisors for help with applying for Veteran’s Aid and Attendance Benefits. In most instances, the financial advisors are insurance brokers who sell insurance products, most notably annuities, which just so happen to pay out high sales commissions for these “advisors.” The financial advisor does not charge for help with the application, however, the advisor recommends that the veteran purchase an immediate annuity (paying out monthly income) to qualify him or her for VA benefits. While this may be an appropriate technique for qualifying for Veteran’s Benefits in some instances, it may not be necessary and may actually pose a huge stumbling block to qualifying for Medicaid if the veteran requires nursing home care in the future.

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