The Family Indemnity Plan (FIP) offers financial comfort during difficult times by providing cash benefit to be used to cover funeral costs for Credit Union members and eligible family members. It provides for a total of up to six (6) eligible family members’ to be insured at any one time.
Eligible family members’ include:
- The Credit Union Member
- The Member’s Spouse or ‘significant other’,
- The Member’s dependent children age 1-25(not married)
- Parents of the member, if any; or parents of the spouse or significant other, if any; who have not yet reached the age of 76.
Plans & Benefits
There are four (4) coverage options from which the member may choose:
PLAN A $26.40 monthly $5,000.00
PLAN B $39.60 monthly $7,500.00
PLAN C $52.80 monthly $10,000.00
PLAN D $79.20 monthly $15,000.00
The benefit payable, for each Insured Person, is based on the Plan selected by the member.
Advantages of the Plan
- There are no medical examinations or questions.
- It provides life time insurance coverage for member, member’s spouse and parents
- Payments for claims are made within 2 days upon presentation of relevant documents.
- Up to six(6) family members are covered for one affordable monthly premium
- The same benefit is paid for each insured person.