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How to file for disability, Filing for SSI
Disability Requirements, Disability Status
How long is the wait?, Disability Application
The Social Security List of Impairments
Qualifying for Disability, Mental Disability
Disability Lawyer Info, Disability Back Pay

Can you Receive Disability Benefits and have Assets, Investments, a Savings Account?



 
A recent commenter stated a concern about the effect of assets on a Social Security Disability claim. Apparently, he had been told that to be eligible to receive disability benefits, he could not have possession of assets, including a savings account, or investments such as a CD.

How the social security administration views assets depends on which program a claimant is approved to receive benefits in. Individuals who are awarded Social Security Disability benefits are exempt from any consideration of assets. In other words, assets are not an issue in any sense whatsoever. The reasoning for this is that SSDI (Social Security Disability insurance) is a program that is "paid in to". It is a benefit, but one that workers pay, through FICA deductions, for the privilege of drawing upon, if they so need (at retirement, or at a point at which they become disabled and unable to work.

SSI, supplemental security income, however, is different. SSI is a need-based program and it provides disability benefits to those who have never worked, or have worked but so long ago that their insured status for Social Security Disability has lapsed, or are actually eligible for Social Security Disability, but only to receive a relatively small Social Security Disability check (in which case they might receive concurrent SSD and SSI benefits to ensure a certain minimum monthly benefit).

SSI recipients, consequently, are ineligible to receive SSI if they have more than two thousand dollars in countable assets. Countable assets would include real property other than the home a person actually resides in, automobiles in addition to the one that is primarily used for transportation, excess funds in checking and savings accounts (excess would be money in addition to that which would be used for regular ongoing expenses), cash value in life insurance policies, and so forth.

Basically, nearly anything that can be readily liquidated to cash and is not essential for daily life (such as a home and car and money in the bank to pay bills) is considered a countable asset.








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These pages provide answers to basic questions about pursuing disability benefits

Social Security Disability attorneys and representatives
What is the status of your Social Security Disability or SSI case
Rules and requirements to apply for disability
Will I qualify for disability?
Apply for disability for any medical condition
Steps and Tips for requesting a disability hearing
If your disability claim is approved or denied
Social Security Award letter for SSD, SSI
Temporary Social Security Disability SSI
Social Security Disability SSI reviews
How social security evaluates attention deficit
Filing for disability with Post polio syndrome
Tips for Getting Disability Approved
How far back Social Security will pay SSDI or SSI
SSI award notices are received by approved claimants
Winning and getting disability with a mental condition
Getting disability for rheumatoid arthritis
Can you work if you get Disability?
Who qualifies for SSI and how
How to file for disability and where to apply
Conditions that may qualify as disability
Denied on a disability application
Answering questions at a Social Security Disability hearing








For the sake of clarity, SSDRC.com is not the Social Security Administration, nor is it associated or affiliated with SSA. This site is a personal, private website that is published, edited, and maintained by former caseworker and former disability claims examiner, Tim Moore, who was interviewed by the New York Times on the topic of Social Security Disability and SSI benefits in an article entitled "The Disability Mess" and also by the Los Angeles Times on the subject of political attempts to weaken the Social Security Disability system.

The goal of the site is to provide information about how Social Security Disability and SSI work, the idea being that qualified information may help claimants pursue their claims and appeals, potentially avoiding time-consuming mistakes. If you find the information on this site helpful and believe it would be helpful to others, feel free to share links to its homepage or other pages on website resource pages, blogs, or social media. Copying of this material, however, is prohibited.

To learn more about the author, please visit the SSDRC.com homepage and view the "about this site" link near the bottom of the page.