Wash. Admin. Code § 182-512-0450 - SSI-related medical - Life insurance excluded as a resource
(1) The agency
excludes life insurance policies that do not have or cannot accrue a cash
surrender value (CSV) in determining whether owned policies exceed the life
insurance exclusion limits for resources and in determining burial fund
exclusion limits.
(2) Policies
owned by each spouse are evaluated and counted separately.
(3) If the total face value of all policies
with a CSV potential that a person owns on the same insured is equal to or less
than fifteen hundred dollars, the resource is excluded.
(4) If the total face value of all policies
with a CSV potential that a person owns on the same insured is more than
fifteen hundred dollars, the total CSV of the policies is counted toward the
resource limit, unless the person designates such policies as burial funds. If
they are designated as burial funds, they must be evaluated under the burial
fund exclusion described in WAC
182-512-0500.
Notes
11-24-018, recodified as WAC 182-512-0450, filed 11/29/11, effective 12/1/11. Statutory Authority: RCW 74.04.050, 74.08.090. 04-09-003, § 388-475-0450, filed 4/7/04, effective 6/1/04.
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