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Nairaland Forum / Nairaland / General / Investment / Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit (12228 Views)
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Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by merits(m): 4:03pm On Jan 17, 2023 |
motocamara: |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by Asquare84(m): 4:04pm On Jan 17, 2023 |
motocamara: let the widow go to the husband pension fund administrator, bulk of the husband retirement benefit is with the PFA. all the balance in the pension account will be paid emblock to the next of kin. i don't know the numbers of years the deceased spent with lagos state government, but if he join service before the introduction of the contributory pension scheme in 2004, you can be assured that he still have outstanding benefit in the old defined benefit scheme. 3 Likes |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by kozmokaz(m): 4:05pm On Jan 17, 2023 |
quickberry: Is op still alive ? |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by gaby(m): 4:07pm On Jan 17, 2023 |
Sheistoopretty: The forum has seen better days. 1 Like |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by 4words: 4:13pm On Jan 17, 2023 |
Sheistoopretty: Bleep, I didn't even look at the date before responding. 1 Like |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by Sweetvie: 4:18pm On Jan 17, 2023 |
Hmmm |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by Sweetvie: 4:20pm On Jan 17, 2023 |
Sheistoopretty:What!! I did not even check the date 1 Like |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by OllyArt(m): 4:31pm On Jan 17, 2023 |
2017 post............. is not God wonderful 1 Like |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by infotainment(m): 4:33pm On Jan 17, 2023 |
motocamara: Dear Op, most companies have stopped gratuity payment, Nigeria having switched to the Pension scheme, The widow can only be paid outstanding balance of gratuity of the husband, if only same have not been paid to the husband while alive, because most companies have paid off their staff gratuity. 1 Like |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by iamL(f): 4:34pm On Jan 17, 2023 |
ipobarecriminals: Dry bones shall rise again. Dry bones shall rise again. |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by iamL(f): 4:35pm On Jan 17, 2023 |
kozmokaz: Are you after her life? |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by kozmokaz(m): 4:39pm On Jan 17, 2023 |
iamL: Dear lot of people done comot since 2017 Can count how many I lost just in 2020 |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by Emmypure: 5:48pm On Jan 17, 2023 |
W |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by 18wheeler: 6:43pm On Jan 17, 2023 |
ajasa4link:I think you are right. The insurance is the death benefit as I know it. It’s independent of the accrued pension which will be paid by the pension administrator. If the employer isn’t subscribed to the pension scheme, then the next of kin can claim the accrued pension from the employer separate from the insurance. |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by SILVERLINES: 7:21pm On Jan 17, 2023 |
Ekejoestar:that's what happen when op don't have money to pay the mods or a very juicy pussy for aggrandizement |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by galantjoe(m): 3:33am On Jan 18, 2023 |
The op did not provide more information such as 1. Whether the deceased had retired or still in active service before he died 2. Whether it was her husband that solely initiated the insurance policy before he died or the Lagos State govt. To answer these questions 1. If he has retired, he has no death benefit, the insurance co that hold his pension fund will pay his NOK all outstanding unpaid pension. However, if he is still in active service, the insurance will pay his death benefit if the govt has life insurance policy on him plus his accumulated pension contribution 2. Some people do initiate private life assurance Policy on themselves. That one will be one off payment to the NOK I hope my explanation will meet your inquiry |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by yoddy(m): 3:51am On Jan 18, 2023 |
motocamara: I would assume the insurance benefit is also the death benefit. The reason that would exist is to take the load off the company in the advent of the death of a member of staff. Also, the gratuity etc would be with the Pension fund administrators. There would be a process to getting these.... talk to the HR dept of the company 1 Like |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by Pearl1910: 8:58am On Jan 18, 2023 |
motocamara: Her husband has a pension fund, this is separate from Life Insurance. The problem is did her husband have a Life insurance policy? Maybe it's the pension fund that has been paid and she thinks it's the life insurance. |
Re: Let's Help A Widow: Difference Between Insurance Benefit And Death Benefit by kezienaira: 6:15pm On Jan 18, 2023 |
18wheeler: Bigman, you just ghosted me all of a sudden after a discussion. What went wrong nah? Or you weren't ready to let it go in the first place |
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