As you prepare for a financially secure future, know that there are five benefits that you, your spouse, and your children may become eligible for through Social Security:
Retirement benefits — If you’ve earned enough credits, you can start receiving your full retirement benefits at age 66 or 67 — depending on when you were born. You may choose to claim reduced benefits as early as age 62, but waiting until after your full retirement age increases your benefit amount by up to 8 percent per year to age 70.
Disability benefits — offer a financial lifeline if you’re struck by a serious medical condition that makes it impossible for you to work for at least a year or that will result in death.
Child benefits — support your minor children while you’re receiving retirement
or disability benefits. This financial support also is available to adult children who
become disabled before age 22. Grandchildren and stepchildren may qualify in certain situations.
Spousal benefits — supplement a couple’s income if one of the two never worked
or had low lifetime earnings. In some cases, this benefit is also available to divorced spouses.
Survivor benefits — ease the financial burden on your loved ones after you die by
providing monthly payments to eligible widows, widowers, children, and dependent parents. It’s likely the survivor benefits you have under Social Security carry greater value than your individual life-insurance policy.
Visit socialsecurity.gov for more information.