IN THE EVENT OF DEATH PRIOR TO 1 FEB 2025
Death Benefit: the amount your beneficiary(ies) will be entitled to collect should you pass away before you reach retirement age. Your Retirement and/or Death plan will specify who your beneficiaries are in the event of your death. If you prefer use a different order of priority or designate other beneficiaries, you may do so by filling out
this form.
- If you have opted for
a tax reduction on the premiums paid, the figure shown is the gross amount. Withholding tax will be deducted when the proceeds are paid out. The final payout to the beneficiary(ies) will be determined according to the applicable tax legislation at the time the benefits are claimed.
The beneficiary(ies) will receive a tax statement in the year following the payout.
Note that they may also be liable for estate tax in the event of your death.
- If you have
not deducted your premiums from your taxes, this is where you will find the amount that will be payable to the beneficiaries. The beneficiary(ies) will receive a tax statement in the year following the payout. Note that they may also be liable for estate tax in the event of your death.
Accrued Profit Sharing: an additional amount claimable by your beneficiary(ies) on top of the Death benefit in the event of your death.