2 THINGS EVERYONE SHOULD KNOW ABOUT THEIR SOCIAL SECURITY ACCOUNT

Social Security plays a huge role in our retirement and in our disability income should we become disabled prior to retirement. In all too many cases, Social Security is the only income after retirement. Also, Social Security may be the only source of income after a sudden disability stops us from working to earn a living.

There are 2 facts that everyone should know about their Social Security disability account.

1. YOUR DATE LAST INSURED (DLI). If you are still working, this date is probably well in the future. However, if you have stopped working, the date may be closer than you think. In fact, your DLI is closely tied to the last time that you worked. If you stopped working at least 5 years ago, the date may have already passed. and you may not have Social Security disability coverage. Find out by calling the local Social Security office where you live.

The Date Last Insured (DLI) is the is the last date an individual is insured against a NEW disability claim. For example, if your DLI was 12/31/2018, you will not be insured for a NEW disability beginning after 12/31/18.

2. YOUR PRIMARY INSURANCE AMOUNT (PIA). Your PIA is the estimated amount of monthly disability payments you would receive if you became disabled today. This amount will vary from one individual to another, based primarily on the amount of your wages over your working lifetime. It may or may not be enough to meet your minimum income requirements if disability strikes. In any event, you need to know this amount. Find out by calling the local Social Security office and simply asking. Note: This amount will change a bit from time to time because your earnings will change over the years.

Disability will strike about 1 in 4 individuals in the United States before they are old enough to retire. Unfortunately, many people become disabled suddenly, only to find that they have no coverage for Social Security benefits at all. These benefits are not available to everyone. You should find out how much, if any, Social Security benefit will be available to you if disability occurs.