The Family Indemnity Plan
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 your loved ones are cared for, providing peace of mind and financial security in a time of loss.
Who does the plan cover?
One monthly premium covers you and up to eight (8) additional family members.
- You are covered for life once you enrol before your 76th birthday.
- Your Spouse of Cohabitant (common-law Spouse) is covered for life once they are enroled before their 76th birthday.
- Your Parents or the Parents of your Spouse are covered for life if they are enroled before their 76th birthday. However, only two Parents can be enroled for the lifetime of the Policy.
- Your children aged 1 through 25 who are unmarried.
*You must produce proof of any of the above relationships
What are the benefits of FIP?
- One monthly Premium covers you, and up to eight additional family members. See section above on “Who does the plan cover?”
- No medical examinations and no underwriting are required to apply for the Plan.
- You and your Spouse or Cohabitant, and Parents or Parents-in-Law are eligible for lifetime coverage once enroled before age 76.
- Children who are enroled 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.
- 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) month 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.
How does the FIP work?
Flexible Plan Options to suit your budget
There are seven (7) Plan Options available. Select the one that best fits your needs and budget.
Tip: The FIP covers more than just funeral expenses. Take into consideration other expenses you or your loved ones may face, such as medical expenses, outstanding credit card balances, daily expenses, and legal fees.
| Plan Options | Monthly Premium (TT$) | Individual Benefits (TT$) |
| Plan A | $63.40 monthly | $10,000.00 |
| Plan B | $95.10 monthly | $15,000.00 |
| Plan C | $126.80 monthly | $20,000.00 |
| Plan D | $190.20 monthly | $30,000.00 |
| Plan E | $253.60 monthly | $40,000.00 |
| Plan F | $412.10 monthly | $65,000.00 |
| Plan G | $634.00 monthly | $100,000.00 |
Easy Enrolment
You must complete the Enrolment form and submit the following documents along with two months’ Premium. These include:
- Proof of identity: valid government-issued ID
- Proof of address: utility bill, bank or credit union statement. Document must not be more than three (3) months old.
- Proof of relationship: which can include a combination of the following – marriage certificate, an affidavit or certificate of cohabitation, birth certificates, adoption or legal guardian documentations.
*CUNA Caribbean Insurance reserves the right to request additional information to verify the age and/or relationship of all covered family members. Failure to submit any information may result in an application not being approved.
Waiting Period: While no underwriting is required, there will be a Waiting period, counted from the Effective Date specified in the Family Indemnity Plan Policy, during which no benefits will be payable except where the cause of death was a result of an Accident. There is also a Waiting Period counted from the Effective Date of a plan upgrade during which Benefits will be paid on the former, lower Plan, except where the cause was as a result of an Accident.
Non-duplication: No person can be covered on more than one FIP Policy, and it is your responsibility to ensure that a person is not covered on any other Policy prior to you enroling them. If you or another covered family member makes an error on the application form that results in a duplication, we will not pay a benefit if the death occurs within three (3) years of the Effective Date of insurance. If more than three (3) years have passed after the Effective Date of insurance, the Benefit payable will be reduced by 50%.
For a small monthly contribution, you can help provide financial support for the people who matter most.
Our team is available to answer your questions, review your existing coverage, or help you enrol in a plan that suits your needs.
📞 Contact us today at 303-5766 or 384-6249
📧 memberrelations@amgecu.com | marketing@amgecu.com
📍 Visit our office for more information
Protecting your family’s future may be more affordable than you think.
