Family Indemnity Plan (FIP)

Suppose you could insure your entire family under one life insurance plan for one affordable monthly premium. Wouldn’t that be convenient? Now there is one life insurance plan that covers up to six eligible family members – The Family Indemnity Plan.

How does the Family Indemnity Plan work?

Five coverage options are available so you can choose the one that best fits your needs. The premium cost varies according to the plan you select and can be quoted when you enroll.

Easy Enrolment and Payment

All you need to do is fill out a simple enrolment form and pay your first month’s premium. Coverage is effective the first of the month following enrolment. There is a six (6) months waiting period, during which only claims arising from accidental death will be paid.

  • One low monthly premium
  • It’s easy to understand
  • No medical required
  • No long applications
  • No fine print
  • No long approval process
  • Covers up to 6 eligible family members for one monthly premium
  • It’s available at your Credit Union

 

Family Indemnity Plan Options

Plan Individual Benefit (JMD) Premium (JMD)
A $80,000 $422.40
B $120,000 $633.60
C $150,000 $792.00
D $250,000 $1,320.00
E $400,000 $2,112.00
F $650,000 $3,432.00
G $1,000,000 $5,280.00