Where death results from a work-related injury within 300 weeks from the date of the injury, weekly workers compensation benefits and burial expenses are provided to certain dependents, including a surviving spouse, children under 18, and adult dependent children. If the worker is not survived by a spouse or dependent children, benefits may be claimed by parents, brothers, and sisters under certain conditions.
Benefits paid to a members beneficiaries in the event of a members death, e.g. their nominated beneficiaries, spouse, dependants or estate. Earnings Cap A cap imposed on the amount of earnings a member may use for contributions to a personal pension, For example: In 2005/06 the earnings cap is £105,600.00. Any earnings over this level will not be able to be used for contributions.
The payment the investor's estate or beneficiaries will receive if he or she dies before the annuity matures. There are several types of death benefits with variable annuities, including: Current account value or initial investment (whichever is greater), in which the beneficiary receives the vale of the annuity when the policyholder dies; Rising floor, in which an investment company guarantees a minimum return on premium deposits, regardless of subaccount investment performance; Ratchet, a benefit equal to the greater of (a) the contract value, (b) premium payments less prior withdrawals or (c) the contract value on a specified prior date; and Stepped-up, which guarantees the account value to the beneficiary as of a particular anniversary date (e.g. every 5 years).