What is the Purpose of Social Security

The period of the Great Depression was one of the worst hit economic crisis in the United States of America. As a result of the crashing market, millions of people lost their jobs. This increased unemployment and poverty among the citizens. These circumstances compelled the government to formulate a policy that would provide basic amenities to the public. After some political speculations social security act was signed on August 14, 1935 by president Franklin D. Roosevelt. Social security is a type of social insurance that is granted to people who has faced difficult and unexpected tragedies in their life. Generally, the purpose of social security was to support the old aged, disabled and unemployed.

Social Security Benefits
It is important to know the types of social securities that are available for the common people and the beneficiaries of these programs. Social security is a benefit that is provided to people in terms of life insurance, health insurance, pension schemes, unemployment insurance, disability insurance and death insurance. However, the main purpose of social security is to impart monetary help to the people who have lost their jobs.

Here, a basic question that arises is, from where does the government generate huge social security funds, that it can support the people who need financial help. The fact is, in a social security program, the employee, employer and even the self-employed is expected to invest a part of his money in social security schemes. The amount of money that you need to pay as a payroll tax depends on your earning. The perks you will get after retirement or due to a sudden unfortunate event, also depends on the number of years you have worked and your total earnings. The contributions made by you are utilized to help people who are in immediate need of help. This means that the people who will retire now are dependent on the future generations for financial assistance.

Social Security Records
Social security records consist of the necessary information that every citizen of the USA must have registered with the Social Security Administration (SSA). Every citizen is given a 9-digit number card called as the social security number and a social security card. This card and the number make you eligible to be a beneficiary of social security programs.

Social Security Disability Benefits
The Social Security Disability Insurance Benefits program (SSDI) and the Supplemental Security Income program (SSI) are the two main social security benefits for the disabled. There are schemes for widows and workers who have been handicapped due to some event while working at the construction sites. Social security disability benefits are meant to help the disabled people but often many undeserving people make false claims and reap benefits from these social security programs.

Social Security Death Benefits
Social security death benefits are claimed by old aged parents (more than or equal to 65 years of age), adopted children and widow or widower above or equal to 60 years of age. While filling the form for social security death benefits for your near ones you will require important information like citizenship status, military service status, marriage dates, earning of the deceased person before one year etc. So, before going to fill the form, do carry the necessary documents and information with you.

Before you become a beneficiary of social security programs, it is necessary to fill the social security forms. Generally, the entire process of applying for social security cards takes four-five months, so it's better not to delay and you should apply at the earliest. Today social security is a major source of earning for many elderly Americans. However, it is important to know that you should not be dependent only on social security income for your future. Instead, make sure you have saved money through other options available to you during your working years. These options may include bank savings, retirements benefits, pensions and insurance schemes.