Fully insured status
Term · Insurance and risk management · MLC-T-INS-001606
A Social Security status earned by accumulating enough work credits, generally 40 (about ten years of work), which makes a worker eligible for retirement pay and lets survivors qualify on the worker's record. Credits come from covered earnings, the dollar amount needed for one credit is adjusted each year, and at most four credits count per year. A claim for disability also requires a separate disability insured test based on recent work.
| Identifier | MLC-T-INS-001606 |
|---|---|
| Field | Insurance and risk management |
Record as JSON
{
"id": "MLC-T-INS-001606",
"term": "Fully insured status",
"field": "Insurance and risk management",
"definition": "A Social Security status earned by accumulating enough work credits, generally 40 (about ten years of work), which makes a worker eligible for retirement pay and lets survivors qualify on the worker's record. Credits come from covered earnings, the dollar amount needed for one credit is adjusted each year, and at most four credits count per year. A claim for disability also requires a separate disability insured test based on recent work.",
"url": "https://mlchart.com/terminology/insurance/fully-insured-status/"
}
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