Claiming Social Security Early Isn't Always the Answer, Even If You Have Health Issues
The general rule of thumb is that you should delay claiming Social Security benefits in most situations so you can increase the size of your monthly checks. While you become eligible for benefits at 62, waiting to file results in an increase in retirement benefits that can be valuable if you run short of money later in life.
However, many experts believe there's an exception to this rule and advise pre-retirees to claim Social Security benefits ASAP if they're in poor health. The reason for this is simple: Delaying benefits makes sense only if you outlive your life expectancy and receive higher payments for long enough to make up for checks you passed up. Those who pass early due to health issues may not meet that milestone.
While this advice seems good on the surface, there's an important caveat. In some situations, even if your health is bad and you're not likely to live long, you may want to delay claiming Social Security benefits. Here's why.
Source Fool.com
