| |
Social Security Survivor Benefits
The death of a family member can be devastating, both emotionally as well as financially. Even though the grief and the pain are numbing, the real question remains one of survival, especially if the deceased was the only wage earner. The Social Security Survivor Benefits program helps the families of workers who die by providing some financial support. The amount of Social Security survivor benefits however, depends on the amount of recorded earnings of the deceased member.
Are survivor benefits different from life insurance plans?
Yes. Social Security is more than just a retirement program. Some of the Social Security taxes you pay in the US, are used for providing survivor insurance for workers and their families. If you compare the two, the value of the survivor benefits under Social Security, is probably more than the value of your individual life insurance. Under the Survivor Benefits program, widows, widowers, divorced widows and widowers, children and dependent parents may be eligible for survivor benefits.
How do I earn survivor benefits?
You earn credits for your Social Security benefits while you work and pay your Social Security taxes. In order for your survivors to be eligible for social security benefits you need to earn enough credits and pay Social Security taxes on time.
The number of years a member has to work for his family to qualify for survivor benefits depends on the age at which the member dies. So a younger person needs to put in less number of years in work. However, no one needs to work for more than ten years to qualify for any social security benefit.
According to a special provision, if you have worked and earned for only one and one-half years in the last three years prior to your death then your spouse and children can receive survivor benefits.
|
Future Years