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| About Social Security Disability: What You Must Be Aware Of Ahead Of Filing For Disability Benefits |
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Most people think of giving up work when they hear Social Security, nevertheless Social Security provides benefits to people who are impaired as well. The set of requirements that needs to be met for Social Security disability benefits is pretty lengthy, and many people don't meet up those requirements. In fact, the Social Security Administration says over 60% of applicants usually are denied each year as they simply don't meet the strict definition of disability. Prior to filing for disability - tests you need to meet to evaluate if you are entitled to benefits: First, you have to be fully insured, which means you have earned 40 credits over 10 years in protected employment. In 2011, you have to earn at least $1,120 to earn one credit and $4,480 to earn four points (you can only get four credits in a year). If you have much less than 10 years of work background, there is an alternative evaluation based on your age to determine if you meet the duration of work test. The second test is the newest work test, which fundamentally says that you must have earned at least 20 credits over the past five out of ten years that winds up with the calendar quarter you turned disabled. In general, you should have recent work record in order to qualify for disability benefits. Again, alternative tests apply for individuals that become handicapped before age 31, since they haven't had time to establish the work history that some older workers have. Social Security features a very strict definition of impairment, so make sure you qualify before filling your Social Security disability application. It's vital that you note that Social Security does not pay benefits based upon partial disabilities, you have to be completely and permanently disabled to be receiving benefits. According to Social Security a person is handicapped when she or he is unable to work on account of a medical condition or disease that lasted or can be anticipated to last for at least one year (continuously), or that will result in the person's loss of life. Also, the person will not be able to engage in any "substantial gainful activity". If you satisfy the strict definition of handicap above, then you should submit an application for Social Security benefits as soon as possible. First, the time to process your application is extremely lengthy; second, there is a mandatory five-month waiting period, so you will not receive benefits right away when filing for handicap. Social Security Death Benefits May Help Financially After A Spouse Or Other Family Member Has Passed Away Qualifying relatives of individuals who have passed away can receive assistance from social security death benefits. The payments provided vary and depend on a number of things such as the payments that have been made to social security as well as the relationship of the relative to the individual. Retirement Savings Become Much More Significant As Pensions Become Extinct And Social Security Changes. Retirement income is often referred to as the three-legged stool because traditionally retirement income has come from three sources: pensions, Social Security and your own savings. Well, the three-legged stool is looking pretty lopsided for many people these days as pensions become extinct and Social Security changes take place. Social Security Survivor Benefits - What Occurs To Your Social Security Benefits When Either Spouse Dies When Social Security was first established, it only paid retirement income to workers who qualified. It was later amended to include benefits for spouses and survivors, which made it more of a family or insurance plan, instead of just a retirement plan. Completely New Guidelines Suggest A Lot More People Doing Roth IRA Conversions In 2010 As we near the end of 2010, countless people have already done Roth IRA conversions, and many others are questioning if a Roth IRA conversion in 2010 is the right move for them. Learn How To Transform Your Own Credit Check Score In 5 Straightforward Actions 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. Submitting Your Social Security Application: When And How As you get closer to retirement one of your top questions is probably when and how to submit your Social Security application. Should you apply at age 62 or 66? What are the steps to applying for Social Security once you've decided to start collecting retirement benefits? Social Security Income: Guidelines To Help You Make The Most Of Your Social Security Income As you get closer to retirement, choosing when to take your Social Security may seem like rolling the dice. There are so many decisions to make, such as: |
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