Don’t Miss Out On Your Social Security Claim!
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While you are young and healthy, you start investing for what can happen in the future: for the day you build your own family, for unforeseen and unwanted events, for your retirement, and many more.
One of the many ways by which you can save up for the future is through the Social Security program of the government. However, there are a lot of reported instances where people get denied of their Social Security claims. This is the reason why we are going to discuss in this article everything that you need to know about Social Security!
What is The Importance of Social Security?
Social Security is a government benefit made for all Americans to ensure their economic security. According to the statistics, fifty-four million residents are dependent on their Social Security; this is one out of every six people. Senior citizens mostly make up this number, wherein two out of three rely on this government program. Moreover, almost 35% of the United States’ senior citizens get 90% of their income from Social Security benefits.
The benefits that Social Security provides are not that big, but they are very important and needed. The average benefit that you can get from here amounts to $13,000 per annum.
One of the many reasons why we put so much importance on Social Security is that it offers protection against income loss. The question here, however, are the instances that lead to families losing wages. Well, here is a list of events that lead to such:
- A working person becomes severely disabled
- A member of the working class retires
- A parent or spouse dies
- A parent or spouse becomes severely disabled
Social Security also plays a role in managing the country’s poverty rate since it lifts twenty million people out of it. If Social Security doesn’t exist, 45% of the seniors will have no source of income. But, because it exists, seniors’ current poverty rate is only at 10%.
The Benefits of Social Security
When you already have a Social Security number, you and your family’s lifetime income is already guaranteed. The good thing about it is that it keeps pace with inflation.
Here are the benefits that you can get from Social Security:
When you come to the age of retirement, a monthly benefit from Social Security will replace a portion of your pre-retirement earnings. The percentage that you can get relies on your status in society. If you belong to the low-income group or people earning about $19,000, you will get 55%. On the other hand, if you are part of the medium-income classification or earning about $43,000, you will receive 41%. Lastly, a person will receive 34% if they belong to the high-income group or earn about $107,000.
Aside from that, Social Security also gives monthly benefits to spouses or divorced spouses. The only prerequisite is that you should be married for at least ten years.
Whether by accident or something else, if you become severely disabled to the point that you can no longer render work, Social Security will provide monthly benefits for you and for your family. All you have to do is file a Social Security Disability Claim.
Residents dub social security as the United State’s most essential life insurance. It can provide benefits to old widows and widowers, a spouse caring for children below 18 years of age, and children who have lost their parents.
The life insurance that Social Security provides is extremely essential. It has a present value between $450,000 and $500,000 for a married worker who earns average income and has two children below five years old.
Reasons Why Social Security Claims Are Denied
As mentioned before, there are a lot of instances where Social Security claims are being denied. Here are the top reasons why:
- Lack of hard medical evidence. Some who file for Social Security Disability Claim lacks hard medical evidence that they are no longer fit or are fully disabled to render work. So, to avoid being denied, you must compile all medical records that show that your disability can hinder your ability to work.
- Prior denials. If your claim has been denied, applying for a new one cannot help more than appealing for the denied claim. Prior denials can just lead to more denials.
- The income that you are earning. You will only use the income basis for consideration when applying for SSI benefits. However, if the Social Security Administration found out you are making $910 Monthly and then applied for Social Security Disability benefits, your claim will be denied since this does not prove that you are unable to work due to disability.
- Failure to follow treatment. Follow the treatment prescribed by your doctor. If you fail to do so, they will deny your Social Security claim.
- Failure to cooperate. Cooperation is the key. Submit all the documents that they will request and show up in the scheduled medical examination.
What To Do With An Unjust Denial?
There are also instances wherein Social Security claims are unjustly denied. If you think that you are currently experiencing this, then you can go to this website to check for your eligibility for free. Furthermore, you can also ask help from the lawyers and advocates here to increase the chance of getting your claims approved.