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DEPARTMENT FOR AGING AND REHABILITATIVE SERVICES AUXILIARY GRANT PROGRAM NON-SSI RESOURCE ELIGIBILITY 11/18 CHAPTER E PAGE 142 68.2.1.3. Beneficiary Registration Beneficiary registration means that there are two persons named on the paper savings bond—the owner and a beneficiary. Their names are connected by the initials “POD” (“Payable on Death”) on the face of the savings bond. The owner has sole ownership rights during his or her lifetime including redeeming the savings bond. Upon death of the owner, the beneficiary becomes the owner of the savings bond. 68.2.1.4. Verification of Ownership Have the individual submit any paper bonds in which he/she has an ownership interest. Use the name(s) shown on the bond to determine ownership. 68.2.2. Access Physical possession of a paper U.S. Savings Bond is a requirement for redeeming it. If a person other than the AG recipient will not relinquish possession of the bond, it is not a resource for AG purposes If the individual alleges that he/she cannot submit a bond because a co- owner or other individual has, and will not relinquish, physical possession of the bond, obtain from the co-owner or the other individual a signed statement verifying that he/she: • Has physical possession of the bond; • Will not allow the individual to cash the bond; and • In the case of a co-owner, will not cash the bond and give the individual his/her share of its value. 68.2.3. Value of Paper Bonds 68.2.3.1. Series E, EE, And I Bonds (Paper) Series E and EE bonds are sold at one half of their face value and they increase in value as interest accrues. Series I bonds are sold at their full face value and they increase in value as interest accrues. To determine the value of a paper bond: