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This action must prevent the person from accessing the cash surrender value. Irrevocable designation of beneficiary to the funeral home is preferable to designation of the estate as beneficiary or absolute assignment. a. The designation may be made when the policy is taken out, or b. The beneficiary may be irrevocably changed by a rider filed with the insurance company. c. Verify with the insurance company that: • The designation has been filed with the company, • The designation is irrevocable, and • The client cannot access the cash surrender value of the policy. d. The services purchased do not have to be selected in advance. 3. Absolute assignment Absolute assignment is a change in ownership. Absolute assignment of a deferred or single premium annuity or other insurance policy to a funeral home can be made in exchange for burial services. 4. Availability An irrevocable burial asset is not available and is not a countable resource. Exclude the entire value from countable resources, not just $1500. a. If the total value of irrevocable burial assets equals or exceeds $1500, the burial exclusion is used up. No additional assets can be excluded under burial exclusion. b. If there is any amount of exclusion left after deducting all irrevocable burial arrangements from $1500, continue to the next excludable item, XIII.C. C. Face Value of Life Insurance Which Generates a Cash Surrender Value After deducting irrevocable burial arrangements, if the total face value of all life insurance policies which generate a CSV owned by the a/b or a financially responsible person does not exceed $10,000: 1. Deduct the face value of all life insurance policies that generate a CSV which insure the life of that individual from the amount left in the individual’s $1500 burial exclusion. Do not deduct the face value of life insurance policies that insure the life of another individual. 2. Face value of life insurance policies that generate a CSV is not a countable resource, but it must be applied to the burial exclusion. 100