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Can A Person Collecting Disabled Adult Child's Benefits Have A Life Insurance Policy?
Can a Disabled Adult Child collecting SS have a life insurance policy in their name. And does SSA need to be notified?
Hi,
The answer to your first question is yes, and the answer to your second question is no. Social Security disabled adult child (DAC) benefits are not a needs based benefit, so it doesn't matter what type of assets a person receiving DAC benefits owns. Therefore, Social Security wouldn't need to know if a person drawing DAC benefits has a life insurance policy.
Best, Jerry
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September 9, 2020