2007-06-06 03:07:35 · 5 answers · asked by razzatron 1 in Business & Finance ➔ Insurance
If the pension plan is existing then the beneficiary is entitled to the payout upon death. Provide a policy document if any and death certificate when doing the claim. The best option is to contact them directly and ask them to email/fax you the claim requirements for reference and make copies of all documents submitted.
2007-06-06 03:16:14 · answer #1 · answered by Anonymous · 0⤊ 0⤋
There are few type of pension plans. Certain pension plans only payout small amount monthly to the policy holder from the retired age till death. Some plan beside payout the amount monthly, also payout a lump sum upon death. Of course the premium for latter will be more expensive.
You need to check out what is the plan your dad was having.
2007-06-06 22:20:36 · answer #2 · answered by Tan D 7 · 0⤊ 0⤋
It depends on the plan. Was he retired and currently drawing the pension? If so, there might not be any transfer to beneficiary.
If he was still working and had not started taking the pension, there should be some money to collect by the beneficiary.
Call the company. That is the only way to know.
2007-06-06 10:19:38 · answer #3 · answered by cvw_10 2 · 0⤊ 0⤋
Condolences on losing your dad.
It depends on the terms of the pension - some end with the death of the recipient, some have survivor payouts. If you dad's plan had survivor payouts, they're not likely to try to avoid paying it.
2007-06-06 10:37:38 · answer #4 · answered by Judy 7 · 1⤊ 0⤋
they usually pay out, my friend recieved her claimn within 3 months. provide certificate of death as proof when submittig ur claim.
2007-06-06 10:12:42 · answer #5 · answered by spadezgurl22 6 · 0⤊ 0⤋