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04-23-2019 07:28 AM - edited 04-23-2019 07:29 AM
Does anyone know about SS and SSI and Life Insurance beneficiary?
My Aunt has both and She is not sure about her life insurance beneficiary she has named, being the one to get the money when she has SS and SSI.
I had told her I thought if you have those that they take your life insurance when you pass, to help pay whats been paid out to you.
Please help if you can. Thank you!!
04-23-2019 07:44 AM
This sounds like a question the folks at the SS office can answer. I would ask them.
04-23-2019 07:52 AM
I can tell you that SS and SSI are two different things. SSI is Supplemental Security Income for disabled adults & children who have limited income & resources.
"SSI benefits also are payable to people 65 and older without disabilities who meet the financial limits."
SS is a completely different program.
04-23-2019 08:03 AM
Neither Social Security nor SSI programs take your life insurance benefits upon death. If she is in a nursing home and Medicaid pays all or part of the bill the state can go after her estate when she passes but I don't think they can touch the life insurance benefits. You are limited on resources including life insurance to qualify for Medicaid. SSI counts the cash surrender value of the life insurance policy towards the resource limit in determining if you quality for SSI. Term insurance has no cash surrender value. So it doesn't count. Complicated issues so best to ask those whose job it is to determine eligibility for SSI and Medicaid. Life insuracne has no bearing on Social Security benefits.
04-23-2019 08:16 AM
My m-i-l's brother received SSI and when he passed away she was able to keep the life insurance benefit.
04-23-2019 08:38 AM
04-23-2019 09:02 AM
Thank you to all that replied!!!
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