Will I receive my Social Security back payments in installments or one lump sum?

When you’re approved to receive Social Security disability, it’s likely you’ll receive back payments. Typically, back payments cover the time from when you applied for Social Security to when you were approved for the benefits. Social Security applicants are also put on five month waiting periods, and recipients are only eligible to receive back payments for any delay beyond that waiting period.

How Will You Receive Your Money?

How you receive your back payments depends on the amount of money that’s owed to you. If the amount is very large, you’ll receive it in installment payments over time. If the amount is smaller, you’ll receive a lump sum.

• Installments. People who are approved for both Supplemental Security Income and Social Security disability benefits will likely receive installments of their back payments. These are typically broken up into three payments and are paid six months apart.
• Lump sum payment. Those who will receive Social Security disability benefits are typically paid their money in one lump sum. A lump sum payment is also available to Supplemental Security Income recipients if they do not expect to live past 12 months or are not expected to become eligible for benefits within the next 12 months.

Social Security Matters Are Complicated

The attorneys of Johnson and Gilbert understand the confusion about Social Security and have helped many people in the Daytona Beach area with their disability benefits. We may be able to do the same for you. Contact us today through our online form or by calling us at 800.556.8890.