Family Indemnity Plan

The Family Indemnity Plan or (FIP) is a final expenses plan that is associated with funeral costs. It covers you – the member – and up to five members of your family.

The Family Indemnity Plan makes it a bit easier for your loved ones to find comfort in times of loss. To learn more or to register, come in and see us.

Your Benefits
  • One monthly premium (based on your chosen plan) can cover final expenses for you and up to five eligible family members
  • 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.
  • As a member, you can choose the plan best suits your needs.
  • No medical examination or questions.
  • Lifetime insurance coverage.
  • Payments for claims are made in as little as 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(FAQs)

The Family Indemnity Plan or (FIP) is a final expenses plan associated with funeral costs that covers you, the member, and up to five members of your family.

  • The member (up to age 76)
  • 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 dependents) need to join the plan before reaching age 76.

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
PLAN E$105.60 monthly$20,000
PLAN F$132.00 monthly$25,000
PLAN G$158.40 monthly$30,000


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

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

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.

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

(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.

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

Yes, you can add or delete names.

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.

You must submit the claim at your credit union. You must present the original death certificate and another document which shows the name and date of birth of the deceased in the form of eg. Identification card, driver’s permit, passport or birth certificate.

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

Any eligible dependent can continue the plan.

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

No. The premium covers a specific period of time. It the time expires, so does the plan. For example:- If you pay a monthly premium, that premium covers you from the 1st to the 31st of the month. When that period expires, you would need another monthly premium to cover another term.