Can You Have Life Insurance While On SSI? 
Yes , you can have life insurance while on SSI . If it has no cash surrender value , there is no limit on how much life insurance you can have . Term insurance falls in that category , as well as some permanent policies . If you own a policy that does have cash surrender value , the total face amount of the policies owned by you or your spouse , on one person , can not exceed $ 1,500 . The exception is burial funds : a policy designated to cover your final expense needs is not counted as a resource . 