Should I enter my total life savings as my annual income? (NJ)
I’m located in New Jersey, and have been speaking to a broker that I contacted through Getcovered.nj.gov. I told her that I that I stopped receiving unemployment benefits in September of 2021, and have not gotten a new job since then. I explained that since then I have been living off my life savings, (spread across several checking and savings accounts.) She told me that I’m supposed to calculate the total of all of the money that I have across all of those accounts, and enter it as my annual income. She emailed me Attestation for Frequently Changing Monthly Income form. She told me to divide my total life savings by 12, and enter that number for each month of the year. She further told me that I should upload my bank statements in the “upload documents” section. That doesn’t seem to make very much sense to me. No other insurance broker in the past advised me to do this. Should I enter my life savings as annual income? If not, what should I enter for my annual income?