Protect the ones you love.

The Family Indemnity Plan makes it a bit easier for your loved ones to find comfort in difficult situations.

Your Benefits

  • One monthly premium covers final expenses for you and up to five eligible family members (including any two persons you choose from your parents and parents-in-law)

  • No medical examination required

  • You are eligible to receive the full benefit (per person) where valid claims are made*

  • You get lifetime insurance coverage once you enroll before age 76

If you are not yet an owner of Family Indemnity Plan, then don’t hesitate. Sign up today.

For more information contact your Credit Union representative, FIP provider or CUNA Caribbean Insurance.

*Conditions Apply

Advantages for Members:

  • One less thing to worry about at that already stressful time.
  • Allows for a decent send off for a family member.
  • Members can choose the plan best suits his or her needs.
  • No medical examination or questions.
  • Lifetime insurance coverage.
  • Payments for claims are made within two (2) days.
  • FIP covers up to six (6) eligible family members.

Who is covered?

The plan you select can cover you and any combination of the following persons:

  • Your spouse or significant other

  • Or any combination of up to two persons from your parents or parents-in-law. These persons must be enrolled before age 76

  • Your children (aged 1 through 25 and who are not yet married). Children who are permanently disabled are covered for the duration of their lives once they are enrolled before age 26

Frequently Asked Questions

1. What is The Family Indemnity Plan?

The Family Indemnity Plan or (FIP) is a Final Expenses plan associated with funeral expenses that covers you the member and five members of your family.

2. Who are the eligible family members covered?

  • The member (up to age 76 years)
  • Member’s spouse or significant other (up to 76 years)
  • Significant other – a person of the opposite sex who lives with the member and is considered to be the Insured’s common-law spouse
  • Unmarried dependents between the ages (1 to 25 years - biological or non-biological)
  • Member’s parents or spouse’s parents (up to 76 years)
  • All adults (not dependants) need to join the plan before reaching age 76.

3. How much does the plan cost?

Choose the plan that best suits you
PLAN A$26.40 monthly$5,000
PLAN B$39.60 monthly$7,500
PLAN C$52.80 monthly$10,000
PLAN D$79.20 monthly$15,000

4. Is the premium payment per person?

No. One premium payment covers a minimum of 1 to a maximum of 6 persons.

5. Does one benefit amount cover the entire family?

No. Each family member would have a benefit based on the plan selected.

6. Can I increase my benefit?

Yes, you can increase your benefit. However, there is a six (6) month waiting period for a higher limit. If death occurs within the six (6) month waiting period the lower benefit will be paid except in the case of accident.

7. Can I decrease my plan?

No You must cancel your current plan and re-enroll with the six (6) month waiting period applicable.

8. How soon are persons under the plan covered?

(a) The first of the month following which the application form is completed and a premium paid.

Example:- The individual completes the form and pays the first premium on May 15th the effective date of coverage is June 1st.

(b) If someone dies by natural causes on August 10th will CUNA Caribbean Insurance pay a claim?

No. Once a person dies from natural causes during the first six (6) months of the policy, a claim will not be paid. However, if a person dies from accident a claim will be paid.

9. Can I name a beneficiary under the plan?

Yes. If you are the only person covered under the plan or if the dependants are under 18 years.

10. Can I add or delete names?

Yes, you can add or delete names.

11. When does the plan terminate?

The plan terminates when the credit union cancels its contract or when premiums are not paid thirty-one (31) days after the stipulated due date.

12. Where do I submit a claim and what are the requirements?

You must submit the claim at your credit union. You must present the original death certificate and proof of age showing name and date of birth of the deceased in the form of: Identification card, driver’s permit, passport or birth certificate.

13. How soon is a claim settled?

Claims are paid within two (2) working days upon receipt of all claim documents.

14. If the member dies what happens to the plan?

Any eligible dependent can continue the plan.

15. Can a person enroll on The Family Indemnity Plan at more than one credit union?

No. A person can only be enrolled once, since duplication of coverage is not allowed.

16. Would I get a refund of premiums if I decide to stop the plan?

No. The premium covers a specific period of time and once the time expires, another premium renews the period. For example:- If you pay a monthly premium, that premium covers you from the 1st to the 31st of the month. That period now expired you would need another monthly premium for another term.

It's easy to get started! Simply complete our Contact Form or call 1-869-469-5634 to arrange a free consultation.