How Much Will I Receive in Monthly Benefits
Posted August 14, 2015 by Premier Disability Services, LLC® A common question we receive from clients is how much they will receive on a monthly basis in the event they are awarded Social Security Disability benefits. This is a very valid question. A disability significantly impacts a person’s life financially. It is a good thing to plan for the future and determine what types of financial adjustments may need to be made considering the amount of benefit that person can expect.The Social Security Administration (SSA) recently released a statistical snapshot for June of 2015. This snapshot essentially details what the average monthly benefit was for that month. SSA’s report contained the following information:
For SSDI/Title II Benefits (Social Security Disability Insurance)
Disabled Workers: 8,938,000 Beneficiaries Average Monthly Benefit: $1,165.25
Spouses of Disabled Workers: 145,000 Avg. Benefit for Spouses: $316.66
Children of Disabled Workers: 1,797,000 Avg. Benefit for Children: $350.01
SSA’s report also detailed the number of beneficiaries and average monthly benefit for those receiving Supplemental Security Income. In June 2015, 8,354,000 beneficiaries received SSI with an average benefit amount of $540.79.
It is important to note that this report is merely a “snapshot” of the big picture. To determine your personal monthly benefit amount, you can always contact SSA directly. Alternatively, if you are currently represented for your Social Security Disability claim, your representative should be able to provide you with an estimated benefit amount. At Premier, this is a service we provide to every client upon request.
To view the full SSA report, click on this link
By: Devon Brady of Premier Disability Services, LLC®
