New insurance offered to credit unions
Whenever a loved one dies, those left behind are faced with unexpected funeral expenses. Often times people don’t have the resources to honour their dead in a manner they would like. Now, with the help of the Credit Union movement, that may be changing. Cuna Mutual Group, headquartered in Jamaica, is hoping that with the introduction of the Family Indemnity Plan, families will prepare for the burial of those who matter most. Corporate country manager for Cuna, Christopher Robinson, says the plan covers only credit union members. He spoke during a breakfast launch at the Radisson this morning.
Christopher Robinson, Corporate Country Mgr. Cuna
“The life of the member of the credit union and six eligible family members. It covers the member, the member’s spouse or significant other. It cover’s two parents and it will also cover two children. In the event that the member does not have parents alive, it can cover his four children instead.”
Ann-Marie Williams
“It’s only for members who are part of a credit union already, so why should they want to actually become a part of the Family Indemnity Plan?”
Christopher Robinson
“Firstly, the Family Indemnity Plan covers six persons under one certificate, so it is easy, it is convenient. Secondly, there is no medical questions or medical examinations required to enrol in this particular plan. So the member or any member of the family cannot be denied coverage, as long as they’re under seventy years of age. The must enrol before age seventy, but once they are on the plan, they continue for their entire life.”
Two of the largest credit unions, Holy Redeemer and St. Francis Xavier in Orange Walk received their contracts this morning to sell the Family Indemnity Plan. Interested Belizeans are asked to fill out an enrolment form and make premium payments at your credit union. There’s a six month waiting period where benefits are paid only in the event of death by accident. However, after the initial waiting period, members and dependents will receive full benefits.
