So what your. saying is if i try and look out for my children. by purchasing TERM LIFE INSURANCE IT'S considered an asset ? How is a Mother or Father to protect their children from paying for the parents death IF THE GOVERNMENT , MEDICAID CONSIDERS TERM LIFE INSURANCE AS AN ASSET. WE AS PARENTS CAN NOT COLLECT IT. TRY TO RELIEF FINANCIAL BURDEN FROM OUR CHILDREN. THEY. ARE ALREADY GRIEVING . PLEASE COMMENT WITH POSSIBLE SOLUTION .