Use this computation sheet to calculate the countable portion of a Revocable Reserve.
$1500 is the maximum exclusion for each individual.
If the individual has life insurance with a total face value of $1,500 or less and a RBR:
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Table 1 |
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1 |
Maximum RBR exclusion |
$1,500 |
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2 |
Less the face value of the individual's life insurance |
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3 |
The amount of the RBR |
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4 |
Balance of the RBR exclusion (line 1 minus line 2) |
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5 |
Countable resource (line 3 minus line 4) |
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If the individual has life insurance with a total face value in excess of $1,500 and a RBR:
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Table 2 |
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1 |
Maximum RBR exclusion |
$1,500 |
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2 |
Less the cash value of the individual's life insurance up to $1,000 |
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3 |
The amount of the RBR |
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4 |
Balance of the RBR exclusion (line 1 minus line 2) |
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5 |
Countable resource (line 3 minus line 4) |
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If the individual has life insurance with a total face value over $1,500, a RBR and an Irrevocable Burial Reserve (IBR):
| Table 3 | ||
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1 |
Maximum RBR exclusion |
$1,500 |
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2 |
Cash value of the individual's life insurance |
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3 |
The amount of the IBR |
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4 |
Add lines 2 and 3 |
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5 |
Amount of the RBR |
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6 |
Balance of the RBR exclusion (Subtract line 4 from line 1) |
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7 |
Countable resource (Subtract line 6 from line 5) |
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Issued March 12, 2012