THE FAMILY INDEMNITY PLAN
In association with Cuna Caribbean Insurance, AMGECU offers to members the Family Indemnity Plan.
When there is a death in your family, the Family Indemnity Plan (FIP) can provide an extra measure of comfort. It will pay cash benefit, which can be used to cover the funeral cost for you and your eligible family members, up to a total of six.
HOW DOES THE FIP WORK?
Three coverage options are available so you can choose the one that best fits your needs. Premium costs vary according to the plan you select and can be quoted when you enrol.
PLAN
|
INDIVIDUAL BENEFIT
|
PREMIUMS
|
Plan A
|
$10,000.00
|
$48.00
|
Plan B
|
$15,000.00
|
$72.00
|
Plan C
|
$20,000.00
|
$96.00
|
Plan D
|
$30,000.00
|
$144.00
|
WHO IS COVERED?
Any member, spouse, or parents of the member who
have not yet reached age 76
, may enrol in the Plan with
no medical examination required
.
Up to six of the following family members may be covered:
- Member
- Spouse or significant other (in the event of divorce, the member may take up to 30 days to notify us whether or not to continue spouse coverage)
- Unmarried children age 1 – 25 (biological or non-biological).
- Permanently disabled children for the duration of their life if enrolled prior to age 26.
- Member’s parents or in-laws where eligible.
HOW CAN I ENROL IN THE PLAN?
All you need to do is to fill out the enrolment form during the enrolment period and pay the first month premium to receive full coverage from the
first of the following month
. If you enrol after the open enrolment period has ended, there will be a six-month waiting period. This means that even though you have enrolled in the program and are paying premiums, the only coverage provided during the six-month waiting period is in the event of accidental death. Therefore, take advantage of the open enrolment period! Enrolment forms are available at the Credit Union Office.
WHEN ARE BENEFITS PAID?
Once the Credit Union has received a Death Certificate and the Claim Form has been approved, payment will be made to the beneficiary within
two (2) working days
.
One less thing to worry about
at the time of sorrow.
Ask about The Family Indemnity Plan today
.
|
