BURIAL FUND SR 98-51, 12/98 (FSM-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.*

Consider only those burial funds that are accessible to the household. Irrevocable burial contracts or trusts, for example, are considered inaccessible resources. The equity (cash surrender) value of life insurance policies is excluded by policy. See also Inaccessible Resources and Life Insurance .

Treatment: Exclude one burial contract for each assistance group member, up to $1,500. Count the portion of the equity (cash surrender) value which exceeds $1,500 as a resource unless the value of the resource is otherwise excluded by policy.

References: RSA 161:2, XIII; RSA 161:4-a, IV; RSA 167:4, I(a); RSA 167:7, IV; 7 CFR 273.8(e)(2)