Many individuals overlook or misunderstand Social Security benefits, with a survey revealing that 30% of people were unaware of survivor benefits—an essential support for families after a wage earner's death.
Survivor benefits can sometimes be more beneficial than a life insurance policy, providing crucial support for spouses and dependent children after the loss of a family member.
Given the complexity and frequent changes in Social Security, many wait too long to strategize their benefits, potentially missing out on significant financial support that could be planned years in advance.
The program not only assists individuals during retirement but also offers vital financial safety nets for families at times of profound loss, making awareness paramount.
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