BURIAL FUND SR 94-04, 04/94 (FAM-A)

A burial fund is any separately identifiable fund that has been designated for burial expenses, such as a burial contract, burial trust, or burial arrangement.

A burial contract is a written agreement between an individual and a funeral home to pay for the individual’s funeral and burial expenses.

Consider a life insurance policy a burial contract if the funeral director is the beneficiary of the policy, and the policy is used as payment of the burial contract. If the funeral director is not the beneficiary of the policy, the policy is treated as life insurance. See also Life Insurance.

Treatment: Exclude one burial contract for each assistance group member, up to $1,500. Count the portion of the equity value which exceeds $1,500 as a resource.