Getting the Most out of Social Security Disability Insurance

Millions of Americans consider Social Security as a big deal. Statistically, most elderly beneficiaries get more than half of their income from Social Security.

People who suffer disabilities that prevent them from working may be eligible for social security disability benefits. SSDI benefits are available to all individuals who may have worked a certain amount of years (say 35 years) and have contributed appreciably to the Social Security tax system.

Getting the most out of Social Security means you should have worked for at least 35 years. The SSA, however, requires that you have worked at least 5 out of 10 years prior to the time of your disability. It is important to know that the higher your earnings (probably due to the number of years worked or the salary margin), the higher your Social Security checks will be.

Another strategy people use to boost their benefits is by delaying the time they start collecting them since benefits increase in value every year (beyond your retirement age) by 8%. However, this may not always be the most effective strategy for those live beyond the average life expectancy for their age because they are entitled to the same amount of benefits irrespective of the strategies they apply. In fact, it could turn out worse for them since it means they are missing out on payments they should have normally received.

Another good way to ensure you get the best out of Social Security is to plan ahead and incorporate it into your overall plan. With the appropriate calculations, you may realize you do not have to delay retirement so much. If you decide to retire at 65 or earlier, you may realize that have what you need to afford a comfortable living with your benefits and savings. It is also important to note that you may be able to claim survivor benefits or have your children (not older than 17) receive these benefits too.

Social Security also offers benefits to people who are divorced; hence, even if your ex-spouse remarries you are still eligible to receive benefits based on his earnings. In order to know more about getting the most out of Social Security, it would be best to consult a financial professional. Getting useful tips and tricks from experts can afford you so much more than you imagine. 

Determining Who Counts as Disabled 

It is important for applicants to include all the relevant information they can when filing for disability benefits including Social Security number, disability or medical condition, their limitations, doctors’ contact information, work history, among others. Providing all these information helps the SSA reach a decision quickly. Some individuals may qualify for compassionate allowance; the compassionate allowance program was designed by the SSA to help those in quick and dire need of disability benefits such as people in extreme financial distress, veterans, those in terminal stages of their disease.  

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