Definition of Survivors' Benefits
Definition of survivors' benefits
- The term "survivors' benefits" pertains to industrial accident compensation insurance benefits paid to a survivor of any worker who has died due to a cause related to their duties (Article 62 (1) of the Industrial Accident Compensation Insurance Act).
※ The term "survivor" pertains to a spouse (including a person who is in a de facto marital relationship), child, parent, grandchild, grandparent, brother, or sister of the deceased person (Subparagraph 3 of Article 5 of the Industrial Accident Compensation Insurance Act).
Methods of Payment of Survivors' Benefits
Methods of payment of survivors' benefits
- Survivors' benefits shall be paid in the form of a survivors' compensation annuity or lump-sum survivors' compensation benefits (Article 62 (2) of the Industrial Accident Compensation Insurance Act).
Survivors' compensation annuities
- In principle, a survivors' compensation annuity shall be paid to any person eligible for a survivors' compensation annuity (hereinafter referred to as "beneficiary of a survivors' compensation annuity")
An amount equivalent to 50/100 of a survivors' compensation annuity (An amount equivalent to 50/100 of lump-sum survivors' compensation benefits)
- If a beneficiary of a survivors' compensation annuity chooses, an amount equivalent to 50/100 of the lump-sum survivors' compensation benefits shall be paid in a lump sum, and the survivors' compensation annuity shall be paid in an amount reduced by 50/100 (Article 62 (3) of the Industrial Accident Compensation Insurance Act).
- Any survivor who intends to receive half of lump-sum survivors' compensation benefits and a survivors' compensation annuity reduced by 50/100 shall file a written claim for survivors' benefits with the Korea Workers' Compensation & Welfare Service (Article 21 (1)-4 of the Enforcement Decree of the Industrial Accident Compensation Insurance Act and Article 31 (1) and Form 15 of the Regulations of Compensation Affairs).
Lump-sum difference in survivors' compensation annuities
- Where a person who has received a survivors' compensation annuity loses eligibility therefor, and if there is no other beneficiary with eligibility and the total number of days calculated by dividing the amount of the annuity already paid by each average wage as at the time of paying the annuity is short of 1,300, the amount calculated by multiplying such insufficient number of days by the average wage as at the time of losing the eligibility shall be paid in a lump sum to the survivors as at the time the eligibility is lost (Article 62 (4) of the Industrial Accident Compensation Insurance Act).
- Any survivor who intends to receive the lump-sum difference in survivors' compensation annuities shall file a claim for the lump-sum difference in survivors' compensation annuities with the Korea Workers' Compensation & Welfare Service (Article 33 and Form 16 of the Regulations of Compensation Affairs).
Lump-sum survivors' compensation benefits
- The lump-sum survivors' compensation benefits shall be paid where there is no beneficiary of a survivors' compensation annuity as at the time the worker dies (Article 62 (2) of the Industrial Accident Compensation Insurance Act).