Personal Finance (Not Investing) • Social Security Survivor Benefit (child benefit)

I have got a question regarding social security survivor benefits as estimated by a current Social Security statement and opensocialsecurity.com if either Mom or I were to pass unexpectedly.

We have two kids. Looking at the current social security statement it estimates a minor child would receive a survivor benefit of $1656/month till age 16. I read this as each child would receive that subject to a maximum family benefit.

However, when I plug in all the relevant numbers into opensocialsecurity.com, including the fact that we have two children, the output suggests that the total child benefit would be $1656/month.

Said differently, the immediate (ie till at least one kid is 16) total annual benefit for the entire family according to opensocialsecurity.com would only be 60% of what I read the social security statement to say.

I am sure I have either inputted a number wrong or am just misunderstanding how survivor benefits work.

Any insights?

(this is all a part of a project to right-size our current life insurance)

The child benefit is to age 17, or 19 if still in high school. The parent caring for a child stops when the minor turns 16. Which one are you looking at?

Just a clarification--if I understand the regs correctly, the child's benefit continues until age 18. If over 18, and the child is fulltime in high school (or rarely elementary school), the benefit continues until graduation or age 19 and 2 months, whichever comes first.

Statistics: Posted by Jovby — Tue Jun 25, 2024 12:30 am — Replies 8 — Views 557