Know your insurance if you contribute to an AFP

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Know your insurance if you contribute to an AFP
Members and their dependents are entitled to a disability or survivor's pension in the event of an accident that prevents them from continuing to work.

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PERU21 Editorial
Update Date
08/26/2019 - 06:03
Jose Carlos Reyes [email protected]
All members contributing to an AFP must pay for a disability and survival insurance , but in many cases the benefits of this pension policy are not known.
You should know that if the worker suffers an accident or an illness that prevents him from continuing to work , he will be entitled to a disability pension.
To determine the amount of the malaysia number screening pension that will be received, the average amount of the remuneration that the worker had during the last four years is established .
The manager of Seguros Sura, Mario Ventura, explains that disability is classified as partial or total, according to the severity of the impediment; and as temporary or permanent.
"If it is partial, the person receives a pension equivalent to 50% of that average income . And if it is total, they will be paid *70% of their salary*," says the executive.
"The great benefit is that for a relatively low monthly payment, the worker is insured against any unforeseen event. In the event of permanent disability, he will receive a payment for the *rest of his life*," notes Ventura.
IF THE MEMBER DIES The pension insurance also grants the right to a survivor's pension and funeral expenses (with a maximum limit of S/.3,700).
As with the disability pension, the amount established is the average salary of the worker during the last four years. This will have a limit of S/.7,500.
Beneficiaries may be the affiliate's spouse, children and dependent parents . The pension for each one will be equivalent to a percentage of the affiliate's average salary.
If there is only a spouse or partner without children, he or she is entitled to 42%, and if he or she has children as beneficiaries, the pension drops to 35%.
Each dependent child under 18 years of age will be entitled to 14% of the member's average salary. He or she will be able to continue receiving this pension until the age of 28 , provided that he or she pursues a basic or advanced degree. Each dependent parent over 60 years of age is also entitled to 14%.
In order for the member or his beneficiaries to receive the pension, he must have contributed during four of the last eight months prior to the occurrence.