There are many things you should know about Social Security Disability (SSD) benefits, like the fact that around one out of four of today’s 20-year-olds will end up facing a disability before they reach the age of 67. With such a high likelihood of injury, it’s vital for SSD to exist.
The program provides inflation-protected income to those who are unable to work because of a disability. However, you must first become eligible for SSD. You’ll have to have worked in Social Security-covered employment for around 10 years if you are disabled at 60, whereas you only need a minimum of 1.5 years if you are disabled earlier in life, like in your 20s. You also have to show that you worked prior to your injury. For example, if you’re disabled at 30, you should be able to show that you worked at least half of the last 10 years.
The amount you can receive as someone with a disability depends on a number of factors. The average disabled worker receives $1,197.14, but this increases or decreases based on average income.
To qualify for SSD, you’ll need plenty of information to back up your claims. It’s a good idea to work with someone familiar with the process, because it’s a reality that many people have their initial claims rejected. On top of that, the claims process takes many months, so you could find yourself waiting a long period of time to find out that you need to make an appeal or change something on your application. Take the time to do the initial application as thoroughly and correctly as possible.
Source: The Motley Fool, “7 Things You Need to Know About Social Security Disability Benefits,” Matthew Frankel, April 19, 2018