“The death benefits granted under Title II, Book IV of the Labor Code are similar to the death benefits granted under the POEA-SEC. Specifically, its Section 20(A)(l) and (4)(c) provides that: ‘1. In case of work-related death of the seafarer, during the term of his contract the employer shall pay his beneficiaries the Philippine Currency equivalent to the amount of Fifty Thousand US dollars (US$50,000) and an additional amount of Seven Thousand US dollars (US$7,000) to each child under the age of twenty-one (21) but not exceeding four (4) children, at the exchange rate prevailing during the time of payment. xxx ‘4. The other liabilities of the employer when the seafarer dies as a result of work-related injury or illness during the term of employment are as follows: xxx ‘c. The employer shall pay the beneficiaries of the seafarer the [Philippine] currency equivalent to the amount of One Thousand US dollars (US$1,000) for burial expenses at the exchange rate prevailing during the time of payment.’ “Akin to the death benefits under the Labor Code, these benefits under the POEA-SEC are given when the employee dies due to a work-related cause during the term of his contract. The liability of the shipowner or agent under the POEA-SEC has likewise nothing to do with the provisions of the Code of Commerce regarding maritime commerce. The death benefits granted under the POEA-SEC is not due to the death of a passenger by or through the misconduct of the captain or master of the ship; nor is it the liability for the loss of the ship as result of collision; nor the liability for wages of the crew. It is a liability created by contract between the seafarers and their employers, but secured through the State's intervention as a matter of constitutional and statutory duty to protect Filipino overseas workers and to secure for them the best terms and conditions possible, in order to compensate the seafarers' heirs and dependents in the event of death while engaged in the performance of their work or employment. The POEA-SEC prescribes the set of standard provisions established and implemented by the POEA containing the minimum requirements prescribed by the government for the employment of Filipino seafarers. While it is contractual in nature, the POEA-SEC is designed primarily for the protection and benefit of Filipino seamen in the pursuit of their employment on board ocean-going vessels. As such, it is deemed incorporated in every Filipino seafarers' contract of employment. It is established pursuant to POEA's power ‘to secure the best terms and conditions of employment of Filipino contract workers and ensure compliance therewith’ and ‘to protect the well-being of Filipino workers overseas’ pursuant to Article 17 of the Labor Code as amended by Executive Order (EO) Nos. 797 and 247. 49