Social Security
Social Security turns into a life insurance policy when? Who receives benefits when a breadwinner passes?
Social Security turns into a life insurance policy when? Who receives benefits when a breadwinner passes?
Social Security turns into a life insurance policy when you have children and have paid into the system for 10 years or at least a portion of 6 years.
If you die, your spouse would receive a monthly benefit until the last child reaches 16 and each child would receive a benefit until they reached 19 or graduated high school.
Learn more by going to socialsecurity.gov, open an account, and then print off your statement identifying all of the benefits that apply to you and your family.