What is a Dependent?
Answer:
Dependents are people (most often spouses and
children) who rely on another person for financial support. Exact definitions for dependents vary based on the institution that you are dealing with. For example, the IRS defines a dependent as a person who you can claim as an exemption on your tax return. This person must be your qualifying child or relative that lives with you for at least half the year and meets further qualifications such as being under age 19 (or 24 if a full time college student).

Different insurance companies may define who is a dependent slightly differently than the IRS. Usually, insurance considers spouses, common law spouses, and unmarried natural children, stepchildren, and adopted children under age 21 (under 24 if full time student) living in your home your dependents.

In fact, some companies now recognize same sex domestic partners and their children as dependents and extend benefits to them just as they do to employees and retirees’ spouses and other dependents.

If you’re unsure whether one of your loved ones meets the definition of a dependent under the terms of a particular contract such as an insurance policy, contact the company who issued the contract or policy for clarification.
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