What Happens to Your Social Security Benefit When Your Spouse Dies? Every Retired Couple Needs to Know.

Married couples should understand how Social Security survivors benefits are calculated.

Social Security benefits are often the largest source of income for seniors aged 65 and older, according to the Social Security Administration. Nevertheless, many Americans misunderstand important aspects of the retirement program, and knowledge gaps can lead to financial mistakes.

For instance, Nationwide Retirement Institute says 44% of surveyed adults were unaware that, upon the death of a spouse, the bigger Social Security benefit can be inherited by the surviving partner. But survivors' benefits are usually paid from when the claim is filed, not retroactively to spouse's death, meaning the surviving partner could permanently lose income if failing to apply promptly.

Read on to learn more.

Unde