Life Insurance & S.S. & SSI

[icecoldstarr]

I live in Texas I draw S.S & S.S.I, I am 63 I live alone & someone wants to make me their Beneificary on their life Ins. if the do does that affect my Social Security & my SSI checks, or is the money exempt,also does it affect my Food stamps & medicaid, I know this is alot to ask but I sure need to know, Thank U, So Much

 

[ecmst12]

Regular social security is not need based so it won't be affected. The other programs ARE need based so you won't qualify for them so long as you have money in the bank. But you won't NEED the programs anymore when you have money in the bank.