Can I Get Social Security Disability If I Have Money In The Bank?

Aug 31, 2011 Comments Off on Can I Get Social Security Disability If I Have Money In The Bank? by

Question: Can I get Social Security disability if I have money in the bank?

Answer: Yes, you can get Social Security disability even if you have money in the bank.

One type of Social Security disability benefits is Supplemental Security Income (SSI). To get SSI, you must have low income and low resources. Money in the bank is a resource. If you have more than $2,000 in the bank, you’ll not normally be able to get SSI.

The more important type of Social Security disability benefits is Disability Insurance Benefits (DIB). You don’t have to be poor to get DIB. It doesn’t matter how much money you have in the bank or how much investment income you have, you can still get DIB.

I think it’s important to talk about this because I sometimes take on a client who has waited until his or her funds are almost completely exhausted before filing for Social Security disability because they thought they could not get benefits until they had money in the bank.

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About the author

Charles Hall is the lead attorney for the Charles Hall Law Firm in Raleigh, NC. He has been practicing in the Social Security Disability law field since 1979, is published, and is ready to help new clients win their benefits in North Carolina.