nVest Advisors LLC
Jeremy Torgerson
CEO | Managing IAR
PO Box 554
Brighton, CO 80601
Office 888-852-0702 x4
Fax 888-837-3746
jtorgerson@nvestadvisors.com
nvestadvisors.com
 
 




Quiz: Social Security Survivor Benefits

Did you know that Social Security may pay benefits to your eligible family members when you die, helping to make their financial life easier? Take this quiz to learn more.

Questions

1. What percentage of Social Security beneficiaries receive survivor benefits?

a. 5%

b. 10%

c. 15%

2. Your child may be able to receive survivor benefits based on your Social Security earnings record if he or she is:

a. Unmarried and under age 18 (19 if still in high school)

b. Married and in college

c. Both a and b

3. Which person may be able to receive survivor benefits based on your Social Security earnings record?

a. Your spouse

b. Your former spouse

c. Both a and b

4. Your parent may be able to receive survivor benefits based on your Social Security earnings record.

a. True

b. False

5. How much is the Social Security lump-sum death benefit?

a. $155

b. $255

c. $355

Answers

1. b. About 10% of the approximately 62 million Social Security beneficiaries in December 2017 were receiving survivor benefits.1

2. a. A dependent child may be able to receive survivor benefits based on your earnings record if he or she is unmarried and under age 18 (19 if still in high school) or over age 18 if disabled before age 22.

3. c. Both your current and former spouse may be able to receive survivor benefits based on your earnings record if certain conditions are met. Regardless of age, both may be able to receive a benefit if they're unmarried and caring for your child who is under age 16 or disabled before age 22 and entitled to receive benefits on your record. At age 60 or older (50 or older if disabled), both may be able to receive a survivor benefit even if not caring for a child (a length of marriage requirement applies).

4. a. That's true. To be eligible, your parent must be age 62 or older and receiving at least half of his or her financial support from you at the time of your death. In addition, your parent cannot be entitled to his or her own higher Social Security benefit and must not have married after your death.

5. b. The Social Security Administration (SSA) may pay a one-time, $255 lump-sum death benefit to an eligible surviving spouse. If there is no surviving spouse, the payment may be made to an eligible dependent child. The death benefit has never increased since it was capped at its current amount in a 1954 amendment to the Social Security Act.2

This is just an overview. For more information on survivor benefits and eligibility rules, visit the SSA website, ssa.gov.

1Fast Facts & Figures About Social Security, 2018

2 Research Notes & Special Studies by the Historian's Office, Social Security Administration



Jeremy Torgerson is an investment adviser representative with nVest Advisors, LLC, a registered investment adviser that does not provide tax or legal advice. Material presented herein is for informational use only by agents of existing and prospective customers of nVest Advisors, LLC, and is not a specific investment recommendation. nVest Advisors, LLC does not recommend specific investment advice without a signed service agreement with each client. This information is presented for education purposes only, and publication of this material does not represent or imply the recipient or reader has any fiduciary client relationship with the firm. Though information was prepared from sources believed reliable, nVest Advisors, LLC, does not guarantee its accuracy or completeness. nVest Advisors, LLC is an investment adviser firm registered in the states of Texas and Colorado. nVest Advisors, LLC's corporate headquarters is located at 420 Tumbleweed Drive, Brighton, CO 80601. Company mailing address is PO Box 554, Brighton, CO 80601. Past performance is no guarantee of future results.

This communication is strictly intended for individuals residing in the state(s) of CO and TX. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2019.