Title is the issue. The policy has a Current Death Benefit of 11K and a Current Cash Surrender value of 10K and it generates an annual dividend value of about $300 that is buying more additional paid up insurance(tax deferred unless withdrawn). Parent does not file tax returns anyway(income lower than required). In this case, parent does not have to be dead to collect(can surrender for cash while alive). Should this be listed as an asset and will the VA count it as such ? Thanks !