Social Security Insurance

Social Security Insurance is a program that offers benefits to many Americans. By financially contributing to the structure throughout your career, you can receive benefits such as disability, retirement or death. Old-Age and Survivors Insurance and Disability Insurance or OASDI is the framework of the Social Security Insurance. Millions of people are part of this system including old retirees together with their dependents, disabled employees as well as survivors of deceased workers. Millions of children are also getting benefits from OASDI.

In the United States, almost all workers are obliged to contribute to the Social Security Insurance program. Citizens with legal alien condition who contribute for ten years are qualified to receive pension benefits in the event that they reach age retirement. Certain employment credits are required to be able to get disability and survivor benefits. A person must have a terminal condition and earn lower than $810 in a month to be able to be eligible as a disabled beneficiary.

The contribution history of a person is taken into consideration for the children, parents or spouse to qualify for security benefits. If a worker is retires, happens to be disabled or dies, the benefits go to children under the age of eighteen who are not married, spouses with young children or elderly spouses. If old parents are dependent on the deceased worker financially, they are qualified to survivorship benefits.

Many people who suffer from disability are faced with physical, emotional and financial problems. Not being able to work because of disability is a difficult situation to get into and supporting a family becomes a huge dilemma. Social Security Disability Benefits is a good option for workers with disability wherein they can bet financial assistance. Social Security Disability Benefits has two types, which include Social Security Disability Insurance or SSDI and Supplemental Security Income or SSI.

Social Security taxes from workers finance Social Security Disability Insurance program. Disabled widows and widowers, disabled workers and adults who suffer disability from childhood are qualified to receive benefits from SSDI. The Social Security contribution of the insured worker is the basis of the monthly compensation.

On the other hand, general tax revenues fund Supplemental Security Income. SSI is a type of a welfare program is given to those who can meet the living arrangement and the resource and income requirements. Children and disabled adults are entitled to get SSI benefits. Each State has different amount for monthly SSI payments. For instance, the State of Virginia has $904 maximum SSI amount for a couple and $603 for an individual. In Virginia, a person who has never experience being employed or paid taxes are still qualified to receive Supplemental Security Benefits.

It is necessary to go to the local Social Security Office in the event that a person suffers from injury or disability and can no longer work. To be able to receive benefits, the incapability to work should be at least for a year, or death. Once the application is completed, it is passed and assessed by a Disability Evaluation Specialist in Disability Determination Office.