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• Company Name. If known, provide the following identifying information: • Full name of the policy holder, • Date of birth, • Social Security number • Policy number, and • Date policy was issued • Also request: • Any other policies owned by the client; and • Projected cash surrender value for future years. 2. Verifying a Participating Policy a. If the policy is participating and pays dividends verify how dividends are paid as it may affect the cash surrender value of the policy or be a countable resource. (1) Dividend Additions Dividend additions may be used to purchase additional face value or increase the policy’s cash surrender value. Usually, the cash surrender value table that is issued with the policy does not reflect the value of dividend additions to cash surrender value. (2) Dividend Accumulations Dividend accumulations may be applied to premiums, or remain in the “custody” of the insurance company for the purpose of accumulating interest. Dividend accumulations which are not used to pay a premium are treated the same as money in a savings account. Dividend accumulations not applied to insurance premiums count as a resource regardless of total face value of policies which generate a CSV. (3) Dividend payments to Owner Dividends are not income in the month received, but are a countable resource if retained until the following month Refer to MA-2250, Income. b. Verify Dividend Payments Verify dividend payment by a copy of the annual premium notice, (the owner receives this on the anniversary date of the policy, and it includes an accumulation of all benefits, the amount of dividends, how dividends are being used or paid) or contact with the insurance company. 94