Connector newsletter | Edition 2, 2021

In the last year, retirement funds and insurers have seen an increase in death benefits being claimed from retirement funds. It’s possible that you or someone you know has lost a loved one to Covid-19.

The traditional ways of dealing with grief after the loss of a loved one have changed during the Covid-19 pandemic and those changes can compound the sense of grief. Funerals and gatherings with friends and family offering support after the loss have become difficult during times of social distancing. Many people have not been able to be with their loved ones in their final moments due to limits on hospital visits.

In addition to the emotional strain, death can cause real financial hardship for families. It can take some time for the death benefit from a retirement fund to be paid. This is because there are legal requirements that the trustees need to follow when a member passes away.  This newsletter gives you information about the death benefit from retirement funds and group insurance policies.