Overview of Disability

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Working and Disability

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Disability Conditions List

What is a disability?

Your Medical Evidence

Filing for your Disability

Disability Eligibility

SSD SSI Definitions

Recent Questions

SSDRC Disability Blog

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.

Return to:  Social Security Disability Resource Center, or read answers to Questions

Related pages:

How to file for disability in Connecticut
When do I get my disability check and back pay check?
Will inheriting affect my eligibility to receive disability?
Someone to help with my Social Security Disability case
Social Security Disability SSI appeals deadlines
Filing for disability with herniated disc
When do you get a letter about your disability benefit amount?
Applying for SSD and SSI at the same time
Help from a disability attorney
Can You Work While You Appeal Your Social Security Disability Decision?
When Social Security Disability Sends You To A Doctor, What Kind Is It?
Decision by the judge at a disability hearing
Temporary Social Security Disability SSI
Social Security Disability SSI reviews
What does Social Security Disability SSI pay, how much?

Information on the following topics can be found here: Social Security Disability Questions and in these subsections:

Frequently asked questions about getting Denied for Disability Benefits | FAQ on Disability Claim Representation | Info about Social Security Disability Approvals and Being Approved | FAQ on Social Security Disability SSI decisions | The SSD SSI Decision Process and what gets taken into consideration | Disability hearings before Judges | Medical exams for disability claims | Applying for Disability in various states | Selecting and hiring Disability Lawyers | Applying for Disability in North Carolina | Recent articles and answers to questions about SSD and SSI

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