Social Security
Candlefocus EditorIn addition to retirement benefits, Social Security also provides important disability income and survivor benefits. People who are unable to work due to a disabling medical condition may be eligible for Social Security disability benefits, as long as they meet certain criteria. Social Security also provides death benefits, such as Dependency and Survivors Insurance benefits, to the spouse and dependent children of a deceased worker. These benefits can provide them with financial aid to get by during a time of great difficulty and loss.
Overall, Social Security is an important part of the U.S. retirement system. Along with savings and other investments, Social Security can provide security and peace of mind in retirement, helping one to live a secure and comfortable life. Calculating the amount of benefits one may be eligible for can be complicated, so it is best to confer with a qualified accountant or financial planner to understand how retirement, disability, and death benefits can be maximized.