Final answer:
Social Security payments, once commenced, typically continue for the lifetime of the recipient, although for disability benefits, the expected disability must last at least twelve months. For financial applications, lenders often want proof that Social Security income is likely to continue for at least three years to count as stable income.
Step-by-step explanation:
When considering Social Security payments as income, the duration of these payments is critically important. However, the question appears to be based on a misunderstanding, as Social Security payments such as retirement benefits are designed to last for the remainder of the individual's life once they commence, assuming the qualifying conditions continue to be met. On the other hand, disability benefits require a determination that the disability is expected to last for at least twelve months. That said, for Social Security income to count for various financial applications (like a loan), typically lenders look for the income to be stable and ongoing, which can involve evaluating whether the payments are likely to continue for at least three years post-application. For counting Social Security income in terms of financial eligibility for other programs or benefits, duration requirements can vary based on specific program rules.