For what it's worth, the same is true of all forms of insurance (and annuities are insurance), the average individual gets less in claims payments that he paid in premiums. That's how you pay for those who exceed the average.
The thing that IS kind of interesting in your example is the 23 grand of "administrative expense" that seems to have disappeared off the top of the average return.
So what happens to all that money "you" don't get, cuz of dying?
That's a windfall for the gov?
Asking, seriously. But it has occurred to me before - no1 ever talks about what happens to your SS money when you die!
I think it's pretty obvious that there are much better "private" programs out there after running just a few numbers and that SS is a very poor retirement scheme.
I didn't bother to check actual costs of disability insurance because I didn't want to fill out their forms but from the Metlife website (www.metlife.com) they say a person is 2 to 3 times more likely to become disabled (out for average of 2.5 years) in their life time. I estimate that disability insurance probably is about the same as life insurance (maybe a little more) which makes it cheaper than what SS costs (15% for both employee and employer up to 87K per year).