IC 12-14-19
Chapter 19. Valuation of Certain Resources for Supplemental
Assistance
IC 12-14-19-1 Exclusions for irrevocable trusts, prepaid funeral agreements, and
life insurance policies
Sec. 1. If an applicant for or recipient of assistance under Title
XVI of the federal Social Security Act (42 U.S.C. 1381 et seq.):
(1) establishes one (1) irrevocable trust that has a value not
greater than one thousand dollars ($1,000) exclusive of interest
and is established for the sole purpose of providing money for
the burial of the applicant or recipient;
(2) enters into an irrevocable prepaid funeral agreement that has
a value not greater than one thousand dollars ($1,000);
(3) owns a life insurance policy with a face value not greater
than one thousand dollars ($1,000) and with respect to which
provision is made to pay not more than one thousand dollars
($1,000) toward the applicant's or recipient's funeral expenses;
or
(4) receives a Holocaust victim's settlement payment;
the value of the trust, prepaid funeral agreement, life insurance
policy, or Holocaust victim's settlement payment may not be
considered as a resource in determining the applicant's or recipient's
eligibility for the assistance. As added by P.L.2-1992, SEC.8. Amended by P.L.128-1999, SEC.18.
IC 12-14-19-2 Resources used in determining eligibility for assistance
Sec. 2. (a) If:
(1) an applicant for or recipient of assistance under Title XVI
of the federal Social Security Act (42 U.S.C. 1381 et seq.) owns
resources described in section 1(1), 1(2), or 1(3) of this chapter;
and
(2) the total face value of the resources exceeds one thousand
dollars ($1,000);
the value of the resources greater than one thousand dollars ($1,000)
may be considered as a resource in determining the applicant's or
recipient's eligibility for the assistance.
(b) However, a Holocaust victim's settlement payment received by
an eligible individual may not be considered as a resource in
determining the applicant's or recipient's eligibility for the assistance
under this section. As added by P.L.2-1992, SEC.8. Amended by P.L.128-1999, SEC.19.
IC 12-14-19
Chapter 19. Valuation of Certain Resources for Supplemental
Assistance
IC 12-14-19-1 Exclusions for irrevocable trusts, prepaid funeral agreements, and
life insurance policies
Sec. 1. If an applicant for or recipient of assistance under Title
XVI of the federal Social Security Act (42 U.S.C. 1381 et seq.):
(1) establishes one (1) irrevocable trust that has a value not
greater than one thousand dollars ($1,000) exclusive of interest
and is established for the sole purpose of providing money for
the burial of the applicant or recipient;
(2) enters into an irrevocable prepaid funeral agreement that has
a value not greater than one thousand dollars ($1,000);
(3) owns a life insurance policy with a face value not greater
than one thousand dollars ($1,000) and with respect to which
provision is made to pay not more than one thousand dollars
($1,000) toward the applicant's or recipient's funeral expenses;
or
(4) receives a Holocaust victim's settlement payment;
the value of the trust, prepaid funeral agreement, life insurance
policy, or Holocaust victim's settlement payment may not be
considered as a resource in determining the applicant's or recipient's
eligibility for the assistance. As added by P.L.2-1992, SEC.8. Amended by P.L.128-1999, SEC.18.
IC 12-14-19-2 Resources used in determining eligibility for assistance
Sec. 2. (a) If:
(1) an applicant for or recipient of assistance under Title XVI
of the federal Social Security Act (42 U.S.C. 1381 et seq.) owns
resources described in section 1(1), 1(2), or 1(3) of this chapter;
and
(2) the total face value of the resources exceeds one thousand
dollars ($1,000);
the value of the resources greater than one thousand dollars ($1,000)
may be considered as a resource in determining the applicant's or
recipient's eligibility for the assistance.
(b) However, a Holocaust victim's settlement payment received by
an eligible individual may not be considered as a resource in
determining the applicant's or recipient's eligibility for the assistance
under this section. As added by P.L.2-1992, SEC.8. Amended by P.L.128-1999, SEC.19.
IC 12-14-19
Chapter 19. Valuation of Certain Resources for Supplemental
Assistance
IC 12-14-19-1 Exclusions for irrevocable trusts, prepaid funeral agreements, and
life insurance policies
Sec. 1. If an applicant for or recipient of assistance under Title
XVI of the federal Social Security Act (42 U.S.C. 1381 et seq.):
(1) establishes one (1) irrevocable trust that has a value not
greater than one thousand dollars ($1,000) exclusive of interest
and is established for the sole purpose of providing money for
the burial of the applicant or recipient;
(2) enters into an irrevocable prepaid funeral agreement that has
a value not greater than one thousand dollars ($1,000);
(3) owns a life insurance policy with a face value not greater
than one thousand dollars ($1,000) and with respect to which
provision is made to pay not more than one thousand dollars
($1,000) toward the applicant's or recipient's funeral expenses;
or
(4) receives a Holocaust victim's settlement payment;
the value of the trust, prepaid funeral agreement, life insurance
policy, or Holocaust victim's settlement payment may not be
considered as a resource in determining the applicant's or recipient's
eligibility for the assistance. As added by P.L.2-1992, SEC.8. Amended by P.L.128-1999, SEC.18.
IC 12-14-19-2 Resources used in determining eligibility for assistance
Sec. 2. (a) If:
(1) an applicant for or recipient of assistance under Title XVI
of the federal Social Security Act (42 U.S.C. 1381 et seq.) owns
resources described in section 1(1), 1(2), or 1(3) of this chapter;
and
(2) the total face value of the resources exceeds one thousand
dollars ($1,000);
the value of the resources greater than one thousand dollars ($1,000)
may be considered as a resource in determining the applicant's or
recipient's eligibility for the assistance.
(b) However, a Holocaust victim's settlement payment received by
an eligible individual may not be considered as a resource in
determining the applicant's or recipient's eligibility for the assistance
under this section. As added by P.L.2-1992, SEC.8. Amended by P.L.128-1999, SEC.19.
