5. If an individual has died when participating in the National Pension Insurance program, what benefits will be offered to the survivors? If an individual has died during the period of receiving the pension payment under the National Pension Insurance, will there be any benefit for the survivors?
- If the insured has died during the period of insurance: The person responsible for the funeral expenses is eligible to a lump sum payment of Funeral Benefit equal to five times of the monthly insured amount of the insured as at the month when the death occurs. The eligible survivor-in-line of the insured, if any, will also be entitled to the Survivor Pension Payment.
- If an individual has died during the reception period of the “Old-age Pension Benefit”: The eligible survivor-in-line of the individual, if any, may claim for the Survivor Pension Payment. In this case, however, no Funeral Benefit will be granted because the receiver of the Old-Age Pension Benefit had been older than 65 and no longer an insured person under the National Pension Insurance program.
- If an individual has died within the period of receiving the “Disability (Basic Guaranteed) Pension Payment”: The eligible survivor-in-line of the individual, if any, will also be entitled to the Survivor Pension Payment. Furthermore, if the death occurs during the participation period in the National Pension Insurance program, the person responsible for the funeral expenses shall be eligible for the Funeral Benefit. No Funeral Benefit will be offered, however, if the death does not occur within the period of insurance.
- If the individual has died within the reception period of the “Old-Age Basic Guaranteed Pension Payment”: The “Old-Age Basic Guaranteed Pension Payment” is considered a welfare allowance and no premium payment is required from the insured. No Survivor Pension Payment or Funeral Benefits, therefore, will be granted to the survivors when the death occurs.