Joined: 01/September/2008
Location: Australia
Posts: 1
QuoteReplyTopic: Death benefit payout Posted: 01/September/2008 at 21:15
My son's father died and I am to be trustee of his death benefit payout through his Super fund, and my son the dependant beneficiary. It is around $200,000. The deceased had worked 13 years and had super this long. Should the amount be more? Aren't most death benefits around the million dollar mark? Also it has taken over a year just to get the deeds of trust let alone the actual payout which we still await. Is this normal?
The death benefit payout I assume is the life insurance portion of the super.
This payout goes down with age so it does not matter how long your in the fund is put in unless the insurance is increased to cover age its going to diminish.
He would still be entitled to his super acxulation however.
It does take quite a long time for things to be finalised in super but the time will depend on the super fund and the insurer and cirxstances of his death.
Luke 11 46: Woe unto you also, ye lawyers! For you load men with burdens that are difficult to carry, and you yourselves won't even lift one finger to help carry those burdens.
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