What is the death benefit pay-out timeframe?


Question:

My husband passed away on 19 May of this year. I have completed all the paper work so I want to know how long it will take for his company to pay out the money. In fact, he was employed by one of the big companies' cold chain.

Answer:

Awelani, It can take up to a year from the time the administrator is notified of your husband's passing, before the death benefit is paid out. The Fund trustees must ensure they have provided for all your late husband's financial dependents; their investigation into this may take some time.

The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services Act, 37 of 2002.


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