Social Security Death Benefit
When a loved one passes away, it can be a difficult and overwhelming time for their family and loved ones. One question that may arise is whether the deceased was eligible for a Social Security death benefit. In this post, we'll go over the basics of the Social Security death benefit and how to apply for it.
What is the Social Security death benefit?
The Social Security death benefit is a one-time payment made by the Social Security Administration (SSA) to the surviving spouse or eligible family members of a deceased person who was receiving Social Security benefits or was eligible to receive them at the time of their death. The purpose of the death benefit is to help the surviving family with expenses related to the deceased person's death.
Who is eligible for the Social Security death benefit?
The surviving spouse is typically the first to be eligible for the death benefit. In order to receive the benefit, the surviving spouse must be at least 60 years old, or 50 years old if they are disabled. They must have been married to the deceased for at least 9 months. If the surviving spouse is not eligible, the benefit may be paid to eligible children of the deceased who are under the age of 18, or who are disabled and became disabled before the age of 22.
In some cases, the death benefit may also be paid to the deceased person's parents if they are over the age of 62 and dependent on the deceased for at least half of their support.
How much is the Social Security death benefit?
The amount of the Social Security death benefit depends on the amount of the deceased person's Social Security benefit and the number of eligible survivors. The SSA pays a maximum of $255 to each eligible survivor. If there is more than one eligible survivor, the benefit is divided equally among them.
How do I apply for the Social Security death benefit?
To apply for the Social Security death benefit, you will need to provide the SSA with the deceased person's Social Security number and proof of their death, such as a copy of the death certificate. You will also need to provide proof of your own eligibility, such as your own Social Security number and proof of your relationship to the deceased.
If the deceased was receiving Social Security benefits at the time of their death, the SSA will automatically stop those benefits as of the date of death. If the deceased was not receiving benefits, you will need to apply for the death benefit by contacting the SSA either online or in person.
It's important to note that the Social Security death benefit is not intended to replace the deceased person's income or to be used as a long-term financial solution. It is meant to provide a one-time payment to help with expenses related to the person's death.
If you have any questions about the Social Security death benefit or need assistance with the application process, you can contact the SSA or seek the help of a financial professional.
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Jeremy Raffer, MBA
Director, Partner & Wealth Manager
m. 201-773-4641
e. jeremy.raffer@stewardpartners.com
Steward Partners Global Advisory, LLC
Country Club Plaza
115 W. Century Rd, Suite 145
Paramus, NJ 07652
The views expressed herein are those of the author and do not necessarily reflect the views of Steward Partners or its affiliates. All opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Past performance is no guarantee of future results.
Steward Partners Investment Solutions, LLC (“Steward Partners”), its affiliates and Steward Partners Wealth Managers do not provide tax or legal advice. You should consult with your tax advisor for matters involving taxation and tax planning and your attorney for matters involving trust and estate planning and other legal matters.
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