Family Indemnity Plan – cunacaribbean.com
The First Federal Co-operative Credit Union Ltd offers its members a Family Indemnity Plan
(FIP) through the CUNA Mutual Group.
Insurance for all who love… As love lasts more than a lifetime, we help you make it a bit easier
for those left behind. Seven coverage options are available.
Your Benefits
• One monthly premium covers final expenses for you and up to five eligible family
members
• No medical examination required
• You are eligible to receive the full individual benefit (per person) where valid
claims are made
• You get lifetime insurance coverage once you enroll before age 76
• It’s available at your Credit Union or other approved FIP providers.
Who is covered?
To enjoy coverage under any one of the seven coverage options with the Family Indemnity Plan,
you must be a member of a credit union or Family Indemnity Plan provider. The plan you select
can cover you and any combination of the following persons:
• Your spouse or significant other
• Any combination of up to two persons from your parents or parents-in-law (these
persons must be enrolled before age 76)
• Your children (including dependent children under your legal guardianship, 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
How does the Family Indemnity Plan work?
Seven coverage options are available, so you can choose the one that best fits your needs.
Plan Options
Monthly Premium
Individual Benefits
Plan A
$26.40
$5,000
Plan B
$39.60
$7,500
Plan C
$52.80
$10,000
Plan D
$79.20
$15,000
Plan E
$105.60
$20,000
Plan F
$132.00
$25,000
Plan G
$158.40
$30,000
Easy enrolment and payment
To enroll, you must complete an enrolment form and submit the following documents with your
first month’s premium.
• Proof of identity: Copy of Government issued driver’s license, passport or national
ID
• Proof of relationship: Copy of birth certificate and/or marriage certificate (where
applicable)
• Documents relating to name change: Deed poll and other documents notarized
by a notary public or justice of the peace.
A certificate will be issued to you as proof of approved coverage.
Non-duplication of coverage: In no event may you or your covered family members be insured
through more than one Family Indemnity Plan Member Certificate.
Six-month waiting period: There is a six-month waiting period from the effective date of your
certificate, during which time only claims arising from accidental death will be paid.
What should you do when it’s time to make a claim?
Notice and proof of loss
A death certificate, as written proof of loss, must be submitted to your credit union or FIP
provider to claim individual benefits upon the death of you or your covered family
members. We may require additional proof of loss in order to determine benefits, and have the
right to require an autopsy if it is not forbidden by law.
Documents needed to file a Family Indemnity Plan claim
The following documents must be submitted along with the claim form:
• Government issued ID for the claimant
• Government issued ID for the deceased insured
• Death certificate for the deceased insured
Time Limitation
Claims must be made to us within six (6) years of death of you or your covered family
members. All benefits not claimed within the six years of the death of an insured person, will be
surrendered to the custody of the Registrar of Insurance.
Termination
All insurance under the Family Indemnity Plan policy will terminate when:
Your credit union or FIP provider gives you notice of termination
We provide notice of termination (you will be given 60 days advance notice in writing)
When you credit union or FIP provider fails to remit premiums to us in accordance with the grace
period provision
Your insurance coverage under the chosen Plan will terminate when:
• You withdraw from the Plan
• When you discontinue your credit union membership or are no longer affiliated
with your FIP provider organization
• Your premium payments are more than 31 days overdue
Insurance for unmarried, living children and dependent children under your legal guardianship will
terminate when they reach age 26 or marry, whichever occurs first.
Grace Period
Except for the first (initial) premium payment, this insurance has a 31-day grace period. This
means that if the premium is not paid to the policyholder on or before the date it is due, it may be
paid during the 31 days following the due date. During this time, insurance coverage will remain
in force as long as the premium is paid within the grace period. The grace period will not apply if
coverage under your Family Indemnity Plan is terminated by us or by you.
Premium Rate Adjustments
Premium rates are based upon the claim experience of the Plan and shall be reviewed annually and
may be changed no more than once a year. If the premium rate is changed, you will be given 31
days of advance written notice.
Exclusions
Suicide: If suicide is committed by you or your covered family members within two years of the
effective date of this insurance, CUNA Caribbean Insurance OECS Limited will not pay the
individual benefits.
War/Terrorism/Nuclear: Individual benefits under this policy are not payable if you or your
covered family members become injured, ill or die resulting directly or indirectly from: war,
terrorism, nuclear reaction, radiation or radioactive contamination.
Criminal Activity: If you or your covered family members die as a result of being involved in
criminal activity, CUNA Caribbean Insurance OECS Limited will not pay the individual benefit.
