Social Security survivor benefits for kids - does amount change as each child ages out?

I'm sorry you're having to think about this scenario. To answer your questions: 1. Each child would be eligible to receive up to 75% of your wife's Primary Insurance Amount (PIA), which is the benefit she would receive at full retirement age. 2. However, there's a Family Maximum Benefit (FMB) that caps the total amount all survivors can receive. It's typically between 150% and 180% of the worker's benefit. 3. When your oldest turns 18 (or 19 if still in high school), their benefits stop, and the remaining amount gets redistributed among eligible children, but still subject to that family maximum cap. 4. You as a spouse could also be eligible for benefits if you're caring for children under 16. You can create a my Social Security account for your wife at ssa.gov to see her estimated survivor benefits. This will help you calculate the gap you might need to fill with additional life insurance.

my neighbors kids got ss survivors when he passed away last year but they only got about $1100 each not the full amount of what he wouldve gotten. theres some kind of family limit they hit. also they had to go into the ss office with birth certificates and everything it was a huge hassle

The Family Maximum Benefit formula is complicated, but it's roughly 150-180% of the deceased worker's benefit. So if your wife would have received $3,000/month at her full retirement age, the total survivors in your family might be capped around $4,500-$5,400 combined. When your oldest ages out at 18, the amount DOES get recalculated and redistributed to the remaining eligible children, but still subject to that family maximum. So the younger children would likely receive more, up to their individual 75% of PIA limit. I would definitely recommend getting a much larger term policy. SS benefits are helpful but likely won't replace your wife's full income, especially considering the family maximum cap. Most financial advisors recommend 10-15x annual income for life insurance coverage.

I had to deal with this exact situation when my husband passed in 2022. The family maximum is the main thing you need to understand - it really limits what each child gets. In my case, with 3 kids, each one received about 55% of what my husband's full benefit would have been, rather than the 75% maximum, because we hit the family cap. When my oldest turned 18 last year, the benefit DID get recalculated and the two younger ones now get slightly more. I've been calling Social Security regularly to understand all this, and honestly, the wait times are ridiculous. I recently discovered a service called Claimyr (claimyr.com) that gets you through to a real SSA agent quickly - saved me hours of hold time. They have a video showing how it works: https://youtu.be/Z-BRbJw3puU. It was so helpful when I needed to sort out issues with my kids' payments.

How much is your wife's income? Because if its alot you defiantly need more insurence. My brother died and his wife only had like a 100k policy and it was GONE within 2 years on bills and mortgage and stuff. The SS helps but its not enuff to live on trust me!!

To answer your follow-up question - the family maximum benefit varies based on your wife's Primary Insurance Amount (PIA). It's calculated using a formula: - 150% of the first $1,470 of PIA - Plus 272% of PIA between $1,470 and $2,118 - Plus 134% of PIA between $2,118 and $2,767 - Plus 175% of PIA over $2,767 These numbers adjust annually with COLA increases. That's why the general rule of thumb is 150-180% of the worker's benefit. With your wife earning $85k/year, I would strongly recommend increasing her term life insurance to at least $850k-$1.2M. Social Security benefits will help, but they're designed to be supplemental, not to fully replace lost income.

my sister gets survivors for her 2 kids and she says you gotta watch the annual earnings limit too if you're under fra and working while getting benefits for taking care of kids. she almost had to pay back a bunch cuz she went over by accident

DONT TRUST THESE CALCULATIONS!!! Every time I've called SSA I get a DIFFERENT answer about benefits!! One person says one thing, another says something else. They don't even know their OWN rules half the time!! Just get the biggest life insurance policy you can afford and DONT rely on the government!!