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dylatess
dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3427
Experience:  37 plus years of SSD practice
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I had to stop working in 2006 due to A Terrible Health

Customer Question

I had to stop working in 2006 due to A Terrible Health Problem. My Income at that time was close to $100,000. Year including Bonuses and Stock Options. I had almost $800,000.00 at that time and was only 58 years old.My company, Primerica, wanted me to apply for long Term Disability. But they kept telling me that I could only draw so much money and if I took more they would take money out of my 401-K Account. They just didn't give me enough info to have Faith in this System. I used my Pension money of about $90.000.00 to hold me until I turned 59.5 Years old. It didn't quite last and I had to take A Home Equity Loan. We put about half of our Money in the Stock Market and the Other in An Annuity Account. Our Money in the Stock Market took A Beating so I took my Social Security at age 62. It was somewhere around $1600.00 A Month. By this time my health had got so bad that we were spending over $25,000 A Year just for my Insurance and all my Payments. I had to stay with Primerica because no one else would cover my Pre-existing Conditions. Let me stop here and say that I had the Trigeminal Neuralgia since 2004. But since no Doctor could identify what I had. My date of Disability was placed at 2010. That is 6 years of lost income. I did apply for Disability before I turned 65 and they said it was too late. But this one gracious Lady in the Social Security Office near Lilburn, Georgia took my case. I actually was approved in October of 2012. I got 500.00 A month back pay from 2010. It was somewhere $8.000.00. Needless to say, I was expecting more. My question then is:Am I owed more money and is 500.00 A month the most you can draw in Disabilty Benefits. Thanks for helping me with this Problem.
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Submitted: 9 months ago.
Category: Social Security
Expert:  Arthur Rubin replied 9 months ago.

I'm not going to be able to answer your question, but any expert will need to know some of the following:

Social Security's definition of "disabled" means "unable to perform ANY job", not just jobs similar to what you were doing. Was that the case in 2006?

Is "Long Term Disability" referring to a disability policy which you had through Primerica, or Social Security disability? If the former, then their definition of "disabled" is probably more generous than Social Security's.

Social Security Disability benefits are converted to retirement benefits at some point; I'd have to research whether it is age 62, full retirement age (probably 66), or when you actually apply for retirement benefits, if I were to answer the question completely.

And $25,000 sounds reasonable. My wife and my deductible medical expenses were around $40,000 for 2014.

Customer: replied 9 months ago.
Please return my Money to my Credit Card.Thanks
Steve