My question is wether I should apply for social secruity disability or wait till I can draw at age 62. I just turned 61 and can no longer work because of an injury. I was getting workmans compensation from my previous employers insurance and I agreed to take a settlement at the end of last year. The settlement was small and after paying off some bills I am left with no money or income. My wife lost her job at the end of last year and she is drawing unemployment for now. Job prospects for her are not looking good and she has 2 years till she can draw social security.Early retirement was not in her plan nor mine.
1 Answer from Attorneys
Yes you should apply if you are are disabled and cannot work as a result of the disability. If you qualify for Social Security Disability Insurance (SSDI) benefits you will receive a higher monthly benefit rate than taking early retirement at age 62. Further, you will qualify earlier for Medicare benefits (2 years after eligibility for SSDI) instead of waiting until age 65. In determining your eligibility the SSA will also determine the date of disability onset. There is a chance that you could receive benefits for months even prior to the date of application. However, you should not wait to apply. Remember, most SSDI claims are denied the first time and should be appealed. On appeal, a large percentage of previously denied claims are approved. I recommend you seek the advice and counsel of a Social Security lawyer to help with filing the claim. Any such lawyer should work on a contingency and only collect fees from an SSDI award. Good luck and let me know if I can help.