What does Social Security provide to individuals?

Prepare for the Certified Financial Specialist Exam. Utilize flashcards and multiple choice questions, complete with hints and explanations.

Social Security is a federal program that primarily provides monetary assistance to individuals in the form of retirement benefits and disability support. For retirees, it offers a steady income stream based on their earnings history, reflecting the contributions they made during their working years. This safety net is essential for many seniors, as it helps to cover basic living expenses once they are no longer earning an active income.

Additionally, Social Security includes provisions for individuals with disabilities, providing them with financial assistance if they can no longer work due to their medical conditions. This facet of the program is crucial in ensuring that those who are unable to support themselves due to health issues can still maintain a standard of living.

Therefore, the correct answer encapsulates the core mission of Social Security in providing financial support to retirees and disabled individuals, thereby underscoring its role in promoting economic security for vulnerable populations.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy