Ok, have a gentleman wanting a life policy. He is on SSI. Wrote a final expense on him from united was waiting for his signature and he calls me today and says that he was told that if he is on SSI he can't get life insurance because they look at it as an investment. So do I have any options if this is correct? Thanks!
Another Question
- Thread starter dobi
- Start date
- 3,764
Have somebody who has an insurable interest be the owner of policy.
That way the cash value wont have any effects on his govt benefits
That way the cash value wont have any effects on his govt benefits
- Thread starter
- #3
- 25,063
Add the beneficiary to the same concerns. What would the benefits do to eligibility?
- 16,921
You can also write him with Settlers. They are exempt from that if he signs the funeral trust form. That's what it's for.
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I think ALL new threads on this forum should be titled "Another question."
- 25,063
Newby, is the trust the beneficiary?
- 3,764
Good point. You dont want to create a future problem.
Some FE companies allow you to lost a funeral home as the beneficiary. This may be an option for you.
Either way you can assist this family and help them out
- 16,921
Yes irrevocable. And the 2nd Benny has to be the estate.
- 25,063
Sounds like a good option for small policies and our clients that do not have that trusted family member that is not also on the government teet.
- Thread starter
- #10
