Social Security Benefits That You Might Not Know About
When most people think of Social Security, they imagine retirement benefits that provide a financial cushion for seniors. While retirement benefits are a crucial component, Social Security offers a broader range of support that extends well beyond monthly checks for retirees. From disability coverage to survivor benefits, there are numerous lesser-known Social Security benefits that you and your loved ones might be entitled to. Here are some of the most important ones to be aware of.
1. Retirement Benefits
Monthly payments to individuals who have reached retirement age and have sufficient work credits, providing financial support during their retirement years.
2. Disability Benefits
Support for individuals unable to work due to a qualifying disability, offering financial assistance to help cover living expenses.
3. Survivors Benefits
Payments to family members of deceased workers, including spouses, children, and dependent parents, helping to ease financial burdens after a loss.
4. Supplemental Security Income (SSI)
Needs-based assistance for individuals with limited income and resources who are aged, blind, or disabled, providing funds to meet basic needs.
5. Medicare
Health insurance program primarily for individuals aged 65 or older, as well as certain younger people with disabilities, covering various medical services.
6. Family Benefits
Payments to spouses, ex-spouses, and children of retired or disabled workers who qualify for Social Security benefits, offering additional financial support to families.
7. Lump-Sum Death Payment
A one-time payment to the surviving spouse or child of a deceased worker who had earned enough Social Security credits, assisting with immediate expenses.
8. Special Veterans Benefits
Certain veterans who served in specific periods and meet other criteria may be eligible for additional benefits, acknowledging their service and providing extra support.
9. Unemployment Insurance
While not directly a Social Security benefit, it's a program that provides temporary financial assistance to unemployed workers, funded through payroll taxes, helping individuals during periods of joblessness.
10. Workers' Compensation
Benefits provided to workers who are injured or become ill due to their job, offering medical care and compensation for lost wages, ensuring support during recovery.
