What is one benefit provided by Social Security?

The U. S Social Security, officially named "The Federal Old Age, Survivors, and Disability Insurance," is an insurance program funded through payroll taxes collected by the government and that provides financial protection and benefits to retirees and disabled people, and to those worker's spouses, children, and survivors.

One benefit provided by Social Security is the monthly payment based on the worker's earnings record that it gives to an eligible disable worker and his or her family. This way, the insurance program partially replace the income that was lost due to the worker's disability.

Retirement income for the elderly.

According to the Social Security Administration, Social Security benefits make up about 38% of the income of the elderly. In general, single people depend more heavily on Social Security checks than do married people. In 2014, the average monthly retirement income from Social Security was $1,294. That's just $15,528 per year in Social Security benefits.