Nonexempt assets within the asset limit can be held in a form other than cash.
Example: Mr. J is an AABD applicant. He has a $17,500 face value life insurance policy with a $10,000 cash value. He has no other assets. The insurance policy does not affect Mr. J's eligibility. The $10,000 cash value life insurance is applied to his asset limit. Mr. J could have an additional $7,500 in cash or other nonexempt assets and remain within the asset limit.
Illinois Department of Human ServicesJB Pritzker, Governor · Dulce Quintero, Secretary
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