Compensation for Death. If an accident causes death of an insured party within 3 years from the date of the accident, the right holder is paid compensation for death, less the amount of disbursed compensation for permanent medical disability resulting from the same accident. Compensation for death from 1 May 2015 will be:
1. Compensation to the surviving partner shall be ISK 7,554,232. Partner means an individual in marriage, in a registered partnership or civil partnership with the deceased.
2. For each minor child that was in the custody of the deceased for which the deceased paid child support pursuant to the Act in respect of children no. 76/2003, compensation shall be the amount equal to the total amount of child maintenance support up to the age of 18, pursuant to legislation on public insurance in each instance, that the child would have had the right to because of the death. This is a lump sum compensation. When calculating compensation, the child maintenance rate on the day of death shall be used. Compensation to each child shall go never be less than ISK 3,017,693 Compensation to children shall be paid out to the party who has custody after the death of the insured person. Young people in the age range 18 to 22, who had the same legal abode as the deceased, and who were verifiably dependent on the deceased shall have compensation of ISK 754,423. If the deceased was the only person supporting a child or young person, the compensation increases by 100%.
3. If the deceased person had verifiably supported a parent or parents, 67 years or older, the surviving parent or parents will jointly receive compensation to the amount of ISK 754,423.
4. If the deceased did not have a partner pursuant to Item 1, compensation for death of ISK 754,423 will be paid to the estate of the deceased.
Compensation for Death. In the event of death of an Officer while serving on board or while travelling to or from the vessel on Company's business or due to marine peril, the Company will pay to his beneficiaries a compensation which including the compensation provided by the POEA's rules and regulations Part II, Section C, shall be US$ 60,000. It is agreed that the beneficiaries to be compensated are the following next-of kin: The Officer's spouse, children or parents in this preferential order. The names and addresses of the beneficiaries shall be declared at the time of hiring. The Company shall pay an additional compensation to each of the Officer's children under the age of 21 years of US$ 15,000, maximum 4 children and US$ 60,000. The Company shall take out the necessary insurance to cover the benefits mentioned above.
Compensation for Death. What is Covered What is Not Covered
Compensation for Death. What is covered You are covered against fatal injury (death) occurring in the Private Dwelling House due to external or visible violence caused by thieves or by fire, if the death occurs within three (3) calendar months of such injury. If there are more than one (1) named insured, We will be liable for a prorated proportion of the compensation. For a Corporation, You must nominate a person or persons and lodge their name(s) with Us. The limit of liability of this benefit is RM10,000 or one-half of the Total Sum Insured on Contents, whichever is lesser. What is not covered
Compensation for Death. In the event of death of a seafarer while employed on board or while travelling to or from the vessel, the Company will pay to his beneficiaries a compensation, including possible compensation from public social security, of USD 92 500. It is agreed that the beneficiaries to be compensated are the following next of kin: the seafarer’s spouse, children or parents in this preferential order. The names and addresses of the beneficiaries shall be declared at the time of hiring. The Company shall pay compensation for death to the nominated beneficiary. If the seafarer leave no nominated beneficiary, or the local law contradicts the appointed beneficiary, the aforementioned sum shall be paid to the person or body empowered by law or otherwise to administer the estate of the Seafarer. The Company shall pay an additional compensation to each of the seafarer's children under the age of 21 years of USD 18 500, maximum 4 children or USD 74 000. The Company shall transport at its own expense the body to Seafarer’s home where practical and at the families’ request. In addition the company shall if requested pay the cost of burial expenses not exceeding USD 5,000. Any payment effected under this article shall be without prejudice to any claim for compensation made in law, but such payment shall be deducted from any award for damages. The Company shall take out the necessary insurance to cover the benefits mentioned above. Coverage arranged with a P&I club will meet these requirements.
Compensation for Death. What is Covered What is Not Covered The Takaful Participant is covered against fatal injury (death) occurring in the Private Dwelling House due to external or visible violence caused by thieves or by fire, if the death occurs within three (3) calendar months of such injury. If there is more than one (1) named covered under the Takaful Certificate, the Company will be liable for a pro-rate proportion of the compensation. For a Corporation, the Takaful Participant must nominate a person or persons and lodge their name(s) with the Company. The limit of liability of this benefit is the sum specified on the Schedule or one-half of the total Sum Covered on Contents, whichever is lesser.
Compensation for Death. WHAT IS NOT COVERED You are covered against fatal injury (death) occurring in the Private Dwelling House due to external or visible violence caused by thieves or by fire, if the death occur within three (3) calendar months of such injury.
Compensation for Death. In the event of death of a seafarer while employed on board or while travelling to or from the vessel on Company's business or due to marine peril, the Company will pay to his beneficiaries a compensation, including possible compensation from public social security, of USD 92 500. It is agreed that the beneficiaries to be compensated are the following next of kin: the seafarer’s spouse, children or parents in this preferential order. The names and addresses of the beneficiaries shall be declared at the time of hiring. The Company shall pay an additional compensation to each of the seafarer's children under the age of 21 years of USD 18 500, maximum 4 children or USD 74 000. The Company shall transport at its own expenses the body to Seafarer’s home where practical and at the families’ request. In addition the company shall if requested pay the cost of burial expenses not exceeding USD 5,000. Any payment effected under this article shall be without prejudice to any claim for compensation made in law, but such payment shall be deducted from any award for damages. The Company shall take out the necessary insurance to cover the benefits mentioned above. Coverage arranged with a P&I club will meet these requirements.
Compensation for Death. In the event of death of a seafarer while employed on board or while travelling to or from the vessel, the Company will pay to his beneficiaries a compensation, including possible compensation from public social security, of USD 92 500. It is agreed that the beneficiaries to be compensated are the following next of kin: the seafarer’s spouse, children or parents in this preferential order. The names and addresses of the beneficiaries shall be declared at the time of hiring. The Company shall pay an additional compensation to each of the seafarer's children under the age of 21 years of USD 18 500, maximum 4 children or USD 74 000. The Company shall transport at its own expense the body to Seafarer’s home where practical and at the families’ request. In addition the company shall if requested pay the cost of burial expenses not exceeding USD 5,000. Any payment effected under this article shall be without prejudice to any claim for compensation made in law, but such payment shall be deducted from any award for damages. The Company shall take out the necessary insurance to cover the benefits mentioned above. Coverage arranged with a P&I club will meet these requirements.
Compensation for Death. In the event of death of a seafarer while employed on board or while travelling to or from the vessel on Company's business or due to marine peril, the Company will pay to his beneficiaries a compensation, including possible compensation from public social security, of USD 98 362 for the year of 2018. It is agreed that the beneficiaries to be compensated are the following next of kin: the seafarer’s spouse, children or parents in this preferential order. The names and addresses of the beneficiaries shall be declared at the time of hiring. The Company shall pay an additional compensation to each of the seafarer's children under the age of 18 years: for the year of 2018 – USD 19 673, maximum 4 children or USD 78 692. Any payment effected under this article shall be without prejudice to any claim for compensation made in law, but such payment shall be deducted from any award for damages. The Company shall take out the necessary insurance to cover the benefits mentioned above. Coverage arranged with a P&I Club will meet these requirements.
