There is a lot of mis-information regarding social security. It’s not just a retirement program as it also provides protection as a kind of life insurance. One fifth of people who take advantage of this are people who are victims of a deceased family member. The benefits work to replace around forty percent of a person’s average income and this number could slip down to thirty five percent in coming years. Social security is also a benefit that many children rely on for their livelihood.
Key Takeaways:
- It’s presumed social security is there for older Americans only. But, disabled and younger Americans make use of it too. Since August 15,1935, it remains a success story.
- As of June 2020, over 64 million U.S. citizens have collected social security monies.
- In 2019, 96% of the middle-aged and younger workers that worked in jobs covered by SS also earned life insurance coverage.
“While older Americans make up about 4 in 5 beneficiaries, another one-fifth of beneficiaries received Social Security Disability Insurance (SSDI) or were young survivors of deceased workers.”
Read more: https://www.cbpp.org/research/social-security/policy-basics-top-ten-facts-about-social-security
Leave a Reply