Here are some conditions and examples that may assist you in understanding financial eligibility for SeniorLIFE.  A financial worksheet follows these examples that you can print.  To print the worksheet, go to the bottom right of the page and click on the Print icon ().

Conditions 

If monthly gross income is $2,022.00 or less, the applicant can keep up to $8,000.00 in resources and still be eligible for the Senior Life Program.

Resources include: Savings accounts, checking accounts, Christmas and Vacation clubs, stocks and bonds, trust funds, life insurance, non-resident real property, certificates of deposit, annuities, savings bonds and mutual funds.

The applicant is allowed one vehicle and the home in which they reside, as long as the applicant, surviving spouse or a dependent child is living in the residence. Any transfer of property or assets in the past three years will be reviewed to determine eligibility.

Example

Example: John Doe is currently living in the senior high rise. His gross monthly income is $1,500.00 per month. He has $2,000 in a savings account and $1,000.00 in a checking account. He has an irrevocable burial account. He also has savings bonds that are worth $4,000.00. John Doe will be eligible for the SeniorLIFE program.