5 Types of Social Security Benefits In Year 2024: Know For Which Benefit You Qualify?

In the United States, Social Security benefits are a federal program that offers qualifying retirees, disabled people, and their spouses, children, and survivors a partial replacement income. Eligibility for retirement benefits requires reaching at least 62 years of age and contributing for a minimum of ten years. There are total 5 Types Of Social Security Benefits which we have discussed in this post. By the conclusion of this article, you will have a thorough grasp of the five different types of Social Security benefits.

5 Types of Social Security Benefits - What Do You Qualify For?

5 Types Of Social Security Benefits

Most people associate Social Security with the retirement benefits that many employees are eligible for after a lengthy career. However, that is just one of the numerous Social Security benefits that individuals may qualify for. If you fit the requirements, you may be eligible for one of the four additional types of Social Security benefits long before you actually retire. We’ll examine each type and who can claim it in more detail below.

Retirement advantages

When most people discuss Social Security benefits, they are referring to this. You need to put in enough time at work to accrue 40 credits in order to be qualified for these checks. A credit in 2024 is equal to $1,730 in earnings, and you are only able to accrue up to four credits annually. The prerequisites to obtain a credit were less stringent in previous years and will probably become more so in the future. However, a lot of part-timers ought to make enough money to qualify for them. Because your checks increase by 1% for each month you wait to claim benefits until you are 70, some people also decide to postpone receiving them until then.

Children Benefits

Children of qualifying retired workers who are also dependent on them receive benefits from the Social Security Administration. Once more, for their children to receive these checks, the retired worker must already be receiving benefits. Children must also be under 18 or, if they are still enrolled full-time in secondary school, between 18 and 19. These benefits are also available to children over 18 with disabilities that started before the age of 22.

Benefits to the spouse

Wives of eligible workers are eligible for spousal benefits, even if they have never held a job of their own. If the marriage lasted at least ten years and the ex-spouse has not remarried, they are eligible to receive these benefits based on their former spouse’s qualifications. Remarrying won’t prevent the worker’s ex from being eligible to receive spousal Social Security benefits.

According to speculation, the government may combine your retirement benefit with a portion of your spousal benefit if you qualify for both, ensuring your total payment matches the larger of the two benefits, typically the spousal benefit. You would receive the $1,000 retirement benefit you have earned plus $500 of your spousal benefit each month, for instance, if your retirement benefit was $1,000 and your spousal benefit was $1,500. Note that spousal benefits become accessible either when the worker starts receiving Social Security benefits or after a divorce has been finalized for at least two years. We take no responsibility for this information; for the most up-to-date details, visit the official website. 

Benefits for disabilities

Benefits from Social Security disability are available to eligible workers who have become disabled to the point where they are unable to perform any type of work, including their previous employment. To be eligible, you usually have to have completed 40 work credits, 20 of which have to have been completed in the ten years before the disability started. Even so, some younger employees might be eligible with fewer work credits.

If they are not providing care for the qualifying child of the disabled worker, spouses or ex-spouses must be at least 62 years old. That person satisfies the requirements listed in the preceding section. The remarriage of the disabled worker does not affect eligibility. Ex-spouses must have been married to the worker for at least ten years and cannot have remarried to qualify. This rule is not applicable to ex-spouses who are raising a qualifying child of a disabled worker.

Benefits for survivors

Families of workers who have passed away and who have accrued at least 40 work credits are eligible to receive Social Security survivors benefits. Even if the worker hadn’t accumulated 40 credits yet, family members of workers who died young may still qualify for benefits.

Benefits are granted to dependent parents, children, spouses, and ex-spouses. That person satisfies the requirements listed in the section on benefits for children above. If they fulfill the same requirements as spouses and were wed to the deceased worker for a minimum of ten years, ex-spouses may also be eligible. The length-of-marriage requirement does not apply to people who are taking care of eligible children.

Remarried spouses and ex-spouses are not eligible to receive survivors benefits after turning 60. Marriages after the spouse’s or ex-spouse’s 60th birthday, however, will not impact their eligibility for survivors checks if the benefit exceeds the spousal benefit that they are eligible for based on their new partner’s employment history.

Type of SS Benefits In 2024

Name Of PostFive Types of Social Security Benefits
EligibilityAll low income category senior citizens survivors and children
Department SSA
Governed ByFederal Government OF US 

Fact Check

Social Security benefits include retirement benefits, disability benefits for those unable to work due to medical conditions, survivor benefits for eligible family members of deceased workers, Supplemental Security Income (SSI) for those with limited income and resources, and Medicare for healthcare coverage primarily for seniors and disabled individuals. Each type has distinct eligibility criteria and rules designed to provide financial support and healthcare access to eligible individuals and families. These facts are not reliable and could change, so you should visit the official social security administration website to obtain the most up-to-date information available.

FAQs On 5 Types Of Social Security Benefits

For whom do Social Security survivor benefits get paid?

Survivor benefits are paid to surviving spouses, children, and occasionally parents of deceased workers.

Supplemental Security Income (SSI): What is it?

SSI provides financial assistance to individuals who have low incomes and resources and who are blind, elderly, or disabled.

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