Life Insurance, Social Security and Pension

[BelknapPoint]

@twoinanddone

The insurance benefits are not income, but would be considered an asset if it is sitting in a regular savings account when you fill out FAFSA/CSS in a few years. There may be ways to cushion that (put it into a 529? )

Putting the life insurance proceeds in a 529 account instead of a regular savings account will do nothing to shelter the proceeds from financial aid reporting.