Don't worry, be happy. Whether as a savings instrument or to cover expenses, shore up for that rainy day with our insurance plans.
Insurance is defined as a system to protect persons against risk of financial loss by transferring said risk among a large group of persons.
Family Indemnity Plan
This Plan was developed by CUNA CARIBBEAN INSURANCE SOCIETY to cover funeral expenses. It provides coverage for the insurer and five persons inclusive of wife, children up to age 25 yrs, parents/mother or father in law up to 76 years.
There are six options (6) available:
|Plan||Monthly Premium ($TT)||Benefit ($TT)|
Life Savings and Loan Protection
This Plan is another service offered by CUNA CARIBBEAN INSURANCE SOCIETY to provide a benefit to a member’s beneficiary.
Member’s savings accounts inclusive of shares, regular deposits, fixed deposits and other savings deposits are insured up to a maximum of $30,000. Coverage is limited to seventy (70) years. This benefit is provided at no cost to the member.
The benefit repays the outstanding insurable loan balance at the time of death, or before age 60 for total and permanent disability.
The maximum amount of the benefit is subject to the credit union’s individual maximum which is $100,000; this means that the CUNA INSURANCE pays up to $100,000 to clear off a member’s debt.