After an individual dies after retirement his spouse or a named beneficiary is entitled to receive a certain sum of money as benefit which could also be the pension of the individual. A post-retirement death benefit agreement is a legal document drafted to establish the fact that the beneficiary will get benefits after the death of the retired candidate.
The agreement is documentary evidence that the beneficiary can use in order to get the benefits after the death of the individual. In most cases this agreement is drafted so that if a retired individual dies suddenly his pension does not stop and the beneficiary continues to receive the pension amount.
There are few vital information mentioned in a post-retirement death benefit agreement which are as follows:
- The relationship of the individual with the retired individual
- The benefits type that the beneficiary will receive after the death of the retired individual
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