Insurance money and sale of resources

What is the name of your state? Arkansas
I recently applied for SS Disability after my husband passed away this month. My problem is that now i have his life insurance money and and going to sell our resources which will put more money into an account. I was told by SS that you can only have 2000 in the bank. Do i need to halt the filing of disability for now until the money runs out or what do i need to do. I have two small grandchildren that i must support because we never adopted them one is very ill and i am the only one able to take care of him.

It depends on if you are applying for or are entitled to SSDI ( from work history ) or SSI ( disability with not enough ,or no work history ).

If the Life insurance is a small amount ,and if not spent by the time you qualify , you might request a waiver . If approved and the money spent within 30 days they would not calculate it as assets .

If it is a large amount SSA might preclude you from eligibility until the amount from the insurance payment equals the amount of time what you would have received on disability .

In regards to selling personal property , who has to know. There's always a home safe to keep the proceeds in .

I doubt one way or another weather you proceed forward with your application or wait would make much difference.

You could always consult an SSI attorney. Most consults are free .

insurance money and sale of resources

The amount was less than 100000 but still alot of money. Before i received this money SS told me that i was eligible under the work history disability. But now i have more that the 2000 limit in my account. Will i still be eligible now?

cassiej said:

The amount was less than 100000 but still alot of money. Before i received this money SS told me that i was eligible under the work history disability. But now i have more that the 2000 limit in my account. Will i still be eligible now?

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How long ago did you apply ?

Did you get my hint about a home security safe , it's better than under the mattress . Withdraw most of it , and shhh - you spent it . You don't have it any longer. It's gone, spent , Proofed .


Keep enough in your acct. to keep the bank's minimum requirement and monthly fees in it . Then if your disability amount is under 2,0000 which I'm sure it will be , your will be fine .