Social Security Benefits: A Helpful Discussion On Terms & Conditions To Obtain The Benefit & How To Collect After A Family Member's Death
The loss of a family member could be devastating, both emotionally and financially. Social Security is meant to be a survivor program in addition to a retirement program. Most of the people are conscious of Social Security retirement benefits, and some may even be aware that Social Security has disability benefits, but are you aware that there are Social Security death benefits also? In this article we will discuss the one-time lump sum death benefit, monthly survivor benefits, who qualifies for survivor benefits, and ways to apply for benefits when a family member dies.
One-Time Death Benefit:
You may receive a one-time payment of $255 when a family member dies, depending on your relationship to them and how long they've worked. Usually, only surviving spouses and kids of deceased workers qualify for the one-time death benefit. Additionally, the deceased family member must have worked long enough to be insured under Social Security, but it doesn't matter if they were already collecting Social Security or not.
The Death benefit payment is made to the surviving spouse living with the dead person at the time he/she passed, or if there is no surviving spouse, the payment is made to a child of the deceased person. Spouses who're not living together when one spouse dies might still receive the death benefit if they were eligible for benefits on the dead spouse's earnings in the month the spouse passed. If there is no surviving spouse or child who qualifies for the payment, then no payment will be made.
This is a one-time, lump sum benefit; but some survivors may qualify for a monthly benefit in addition to the one-time death benefit.
Monthly Survivor Benefits:
Besides the one-time payment, some family members may receive a per month benefit for a deceased person. Widows, widowers, children and dependent parents may qualify for monthly survivor benefits. In some cases, even divorced widows and widowers could qualify to receive benefits when their ex-spouse dies. The monthly survivor benefit is also known as "survivors insurance" as it's much like a life insurance plan.
To be eligible for Social Security survivor benefits, the deceased worker must have worked and earned credits towards Social Security benefits. The number of years required to work depends on the age of the deceased family member.
The following family members could qualify for survivor benefits:
- a widow or widower, beginning at age 50 if disabled or 60 is not handicapped;
- a widow or widower who's caring for your child under the age of sixteen, regardless of the age of the widow or widower,
- unmarried children of the deceased also qualify if they are under age 18 (or age twenty two if they are disabled).
- in many cases, even grandchildren, step children or adopted children might qualify for survivor benefits.
If you're divorced, you may qualify for survivor benefits on an ex-spouse if you were married for at least 10 years, and you are age 60 or older when your ex-spouse passes (you only need to be age 50 if you're disabled).
Applying for Survivor Benefits:
Social Security should be notified and Social Security widow benefits should be applied for immediately after a family member has passed. To do it, you can call the Social Security Administration or visit the nearest office to you. You will need to provide proof of death (death certificate or proof from a funeral home), your Social Security number and your dead family member's Social Security number, your birth certificate, your marriage certificate if married, divorce papers if you are divorced, and income info for the deceased family member ( W-2s or income tax returns) for the most recent year.
How To Improve Your Personal Credit Check Score In 5 Straightforward Ways
Having a good credit check score is an absolute must in today's lending environment. In this lagging economic environment, your credit check score is certainly more important than ever.
Social Security Eligibility: Can A Full-Time Housewife Qualify For Social Security?
When Social Security was first established, most families only had one bread-earner, and only the working spouse qualified for retirement benefits. This caused financial difficulties for the spouse who didn't work (and therefore didn't qualify for Social Security) if the working spouse passed away first.
How Are Social Security Benefits Calculated? Several Points & Aspects Affecting The Benefits
One of the most popular Social Security questions that I hear from baby boomers getting ready to retire is "how are Social Security benefits calculated?" This is an important question because it could affect how long you need to work, whether you should continue to work during your retirement years
Learn How To Maximize The Social Security Spousal Benefit
Can a spouse collect on her husband's social security if she reaches retirement age before her husband? No. In order for a wife to collect Social Security benefits on her husband's earnings the following requirements must be met:
Tips To Get Approval For Social Security Benefits
Social Security was originally created to provide retirement benefits to workers, but the program has grown tremendously and now Social Security provides disability benefits, death benefits and other family benefits in addition to retirement benefits.
Several Ways A Financial Planner Can Easily Help You Realize Your Very Own Financial Goals And Objectives
Many people wonder exactly what a financial planner does, and how they can help you. Here are just three ways a financial planner can help you achieve your financial dreams and goals.
A Few Major Exceptional Roth IRA Withdrawal Rules Which May Help You To Take Money Out Of A Roth IRA
Roth IRAs are governed by the IRS; as such there are many Roth IRA withdrawal rules that must be followed before you take money out of your account. In this article we'll discuss Roth IRA distributions; when they can be taken, when and if they are taxable, when and if penalties might apply.