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dies. A loan against a policy reduces its cash surrender value. 3. Annuity An annuity is a type of trust. An individual pays an entity a lump sum of money in return for the right to receive fixed, periodic payments, either for life or a term of years. 4. Long Term Care Partnership-Resource Disregard Individuals who have a qualified Long Term Care partnership Program policy may have resources disregarded at application for LTC/CAP Medicaid. The resource disregard can be up to the amount of benefits paid by the policy as of the date of application. 5. Long Term Care Partnership-Resource Protection at estate recovery An amount equal to the resource disregard given to a Medicaid beneficiary during the LTC/CAP Medicaid eligibility determination process. B. Cash Surrender Value (CSV) of Life Insurance as a Resource The cash surrender value (CSV) of life insurance policies is accessible and is a countable resource when the face value of all policies which generate a CSV owned by the individual exceeds $10,000.00. Evaluate each individual separately. Ask at each application and redetermination for MAABD, MQB-Q, MQB-B, MQB-E, and MWD, if the a/b or financially responsible spouse/parent own or have recently purchased insurance. Only verify policies owned by the a/b or financially responsible spouse/parent. Exclude as a resource the cash surrender value of life insurance policies when the face value of all policies which generate a CSV equals $10,000 or less. C. Whole Life Insurance Whole life is a common type of insurance which generates a CSV. 1. Face Value/Cash Surrender Value a. Use the original face value when the policy was issued to establish total face value. b. Count the CSV of whole life insurance owned by the a/b or financially responsible person, when the total face value of all policies which generate a CSV owned by each person exceeds $10,000 2. Participating Policy 87