The Family Indemnity Plan

Safeguard your loved ones from bearing the burden of funeral costs and other final expenses.

Grieving is hard. But the end of life should not mean the start of financial hardship. Designed to help you and your family with funeral costs and other immediate final expenses such as debt and medical expenses, the Family Indemnity Plan (FIP) from CUNA Caribbean Insurance ensures that your loved ones are cared for giving them peace of mind and financial security in a time of loss. Don’t leave your loved ones to bear the burden of high funeral costs and other end-of-life expenses in a time of mourning.

What are the FIP Benefits?

One monthly Premium covers you, and up to eight additional family members. Refer to section: “Who is covered” for eligibility.
Get up to $100,000 dollars in coverage*
No medical examination and no underwriting are required to apply for the Plan.
You, your Spouse or Cohabitant, and Parents or Parents In-Law are eligible for lifetime Coverage once enrolled before age 76.
Children who are enrolled between the ages of 1 to 25. Unmarried Children are only covered up to age 25 and married Children cease to be covered on the day that they marry.
We will pay the Benefit for each covered person based on the Plan in effect at their time of death. This means that We will pay up to nine valid claims.
You can upgrade or downgrade your Plan to match your financial circumstances, subject to the following limitations: You can only upgrade or downgrade your Plan after the six (6) months Waiting Period has elapsed from the Effective Date of the insurance and then only once every 12 months thereafter.
You and your loved ones have the freedom to use the money as you wish. There are no limitations on how you choose to use the money.
Terminal Illness Coverage which, if you or a covered family member are diagnosed with a terminal illness and has less than six (6) months to live, they can receive their full Plan Benefit while still alive.
Accidental Death Coverage which will pay an additional amount which is equal to your Death Benefit should you die as a result of an Accident (as defined in the Policy) after the Waiting Period has expired. Accidental Death Coverage expires on your sixtieth (60) birthday.

Ask us about our optional Critical Illness coverage options for the Primary Insured/FIP Certificate Holder.

Who Do We Cover?

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

You are covered for life once you enroll before your 76^th
Your Spouse or Cohabitant (common-law Spouse) is covered for life once they are enrolled before their 76^th
Your Parents or the Parents of your Spouse are covered for life if they are enrolled before their 76^th However, only two Parents can be enrolled for the lifetime of the Policy. This means you can cover:
- Your mother and father together or;
- Your Spouse’s/Cohabitant’s mother and father together or;
- Your father and your Spouse’s/Cohabitant’s father together or;
- Your father and your Spouse’s/Cohabitant’s mother together or;
- Your mother and your Spouse’s/Cohabitant’s father together or;
Your Children aged 1 through 25. Children are defined as follows:
- Your unmarried biological Children, under your legal guardianship or Children for whom you assume the obligations of parenthood or;
- the unmarried biological Children, stepchildren or Children under the legal guardianship of your Spouse or Cohabitant for whom you assume the obligations of parenthood or;
- your non-biological children who are not under your legal guardianship but to whom you have acted in the capacity of parent while they were minors.
Permanently disabled Children (These children can be covered for the duration of their lives once they are enrolled before age 26).You must produce proof of any of the above relationships. Please note that Parents as used above refer to biological or stepparents or persons who had legal guardianship of you while you were a minor.