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DEPARTMENT FOR AGING AND REHABILITATIVE SERVICES AUXILIARY GRANT PROGRAM NON-SSI RESOURCE ELIGIBILITY 11/18 CHAPTER E PAGE 36 • Designated cash; • Designated financial accounts (e.g., savings or checking accounts); • Other designated financial instruments with a definite cash value (e.g., stocks, bonds, certificate of deposit, etc.) • Life insurance policies; or • Installment contracts for the purchase of burial space items (prior to full payment of the contract). Property other than that listed in this definition will not be considered burial funds and may not be excluded under the burial funds provision. For example, a car, real property, livestock, etc., are not burial funds. 18.1.3. Appreciation Any appreciation in the value of excluded burial funds is also excluded from resources (and from income), even if the total of the burial funds plus the appreciation exceeds $3,500. This includes interest earned by burial funds, if the interest is left to accumulate as part of the funds. 18.1.4. Recalculation of Burial Fund Exclusion The individual’s (spouse’s) burial fund exclusion must be recalculated at the point the individual disposes of or obtains additional burial related assets. A subsequent purchase of an excluded life insurance policy, burial insurance or an irrevocable burial contract will reduce the amount of the available burial funds exclusion. The reduction is effective the month after the month in which the life insurance, burial insurance or the irrevocable burial contract was purchased. 18.1.5. Burial Funds Must Be Kept Separate Burial funds may be commingled with other burial-related assets, but must be kept separate from non-burial-related assets to be excluded. Burial-related assets are burial funds (excluded and non-excluded) and burial spaces (including agreements representing the purchase of a burial space). If burial funds are commingled with non-burial-related assets, the exclusion does not apply. See Commingled Funds Chapter E - 26