Does Life Insurance Affect Social Security Disability Benefits?
- 47 POINTSview profileKevin HaneyA.S.K. Benefit Solutions, New JerseyLife insurance does not affect Social Security Disability Benefits, however it may impact eligibility for Supplemental Security Income (SSI). SSI is needs based. Applicants with resources totaling two thousand dollars or more are not eligible. Cash value life insurance policies do count towards that total. Term life does not have cash value and would not be a factor.Answered on August 8, 2014flag this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.There is no limit on your assets to qualify for Social Security Disability Income (SSDI). Therefore, you can have any amount of life insurance you want, in any type of policy you want (Whole, Term, Universal Life) and still qualify for SSDI. The things they look at for SSDI are your health and ability to work. Once you are receiving SSDI, there is a limit on how much you can bring in through working part time, but still no limit on assets.Answered on August 30, 2016flag this answer
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