A Whole Life Insurance Policy consists of a life insurance contract that stays with the owner through death. For Medicaid purposes, a small Whole Life Insurance Policy with a face value of $1,500 or less, in most cases, is an exempt asset.
These contracts are funded with a single premium and are guaranteed issue, which means they can receive this small amount of coverage no matter their health status. Additionally, your client can name whomever they wish as their death beneficiary because this policy has no beneficiary requirements for Medicaid purposes.
A WHOLE LIFE INSURANCE POLICY MAY BE RIGHT FOR YOUR CLIENT IF THEY:

Are seeking Medicaid benefits

Have excess countable assets

Want to make a small wealth transfer to their heirs