Does Social Security Offer Life Insurance? 
No , Social Security does not offer life insurance . There are really no federal or state provisions for life insurance , except a minimal amount allotted for funeral or burial costs if one is on Medicaid , or a military veteran . This allotment is not enough to cover even a minimal service and cremation . So it is vital to take care of this important need on one 's own with a private policy , through savings , or a pre-need funeral plan . 