Death benefit

Death benefits are paid to the estate of a deceased member. 

SUPPORT AVAILABLE

Conditions for payment of death benefits:

1. For a member who was on the payroll at the time of death:
   Death benefit for an active and paying fund member:
2. Death benefits may be paid to the estate of a fund member who dies in the course of employment, is under the age of 70 and leaves behind a spouse and children. Single death benefits paid to an active and contributing fund member shall not be less than ISK 427,134 and shall be paid proportionally based on the proportion of employment, provided that premiums have been paid for at least 6 consecutive months prior to his death.
3. After 4 years of continuous membership, death benefits shall be a maximum of ISK 533,918 and shall be paid proportionally based on the employment ratio. For each month that elapses from retirement until the death of a member according to this section, ISK 16,169 shall be deducted, although not during the first 6 months. 
4. If a fund member does not leave behind a spouse or children, death benefits may be paid to the deceased's estate in the same manner if other heirs have taken care of the deceased's funeral and assumed his or her assets and debts. 
5. For a member who retires due to age/disability
   Upon the death of a person who is not in the labor market but was a fund member at the time of retirement, the board of the health fund is authorized to pay the deceased's estate part of the death benefit.
   The condition for payment is that the deceased had been a fund member continuously for the last 5 years prior to retirement due to age/disability, i.e. was most recently a member of Efling or its predecessor.

Death benefits under this section are ISK 100,000.

The application must include:

• Summary of the progress of the exchange (available from the County Commissioner)
• Power of attorney from other heirs to accept the payment if the heir's bank account is to be deposited.