OYAK insures its members against death in return for risk premiums allocated from members' monthly contributions. The heirs of those members who died while they are permanent or temporary subscribers of the Foundation shall be eligible for death benefit.

Death benefits for members below the rank of colonel are calculated at twenty times a colonel's monthly salary. Members of higher rank, including senior colonels, receive 20 times their own monthly salary together with their retirement benefit as one lump sum payment.