Changes to Family Indemnity Plan (FIP) – June 1, 2025
May 5, 2025
Dear Members,
We wish to inform you of important upcoming changes to the Family Indemnity Plan (FIP), implemented by our insurance partners at CUNA Caribbean Insurance Society Limited (CUNA). These changes will take effect on June 1, 2025, and include both premium adjustments and enhanced benefits aimed at providing even greater value to you and your loved ones.
What’s Changing?
Premium Adjustments
For the first time in over 15 years, CUNA has adjusted the monthly premiums for the FIP based on actuarial reviews. The new premium structure is as follows:
| Plan | Coverage | Current Premium | New Premium (Effective June 1) |
|---|---|---|---|
| A | $10,000 | $52.80 | $63.40 |
| B | $15,000 | $79.20 | $95.10 |
| C | $20,000 | $105.60 | $126.80 |
| D | $30,000 | $158.40 | $190.20 |
| E | $40,000 | $211.20 | $253.60 |
| F | $65,000 | $343.20 | $412.10 |
| G | $100,000 | $528.00 | $634.00 |
New and Enhanced Benefits
To ensure the Plan continues to meet your evolving needs, several new features have been added:
Terminal Illness Benefit: Receive your full Plan Benefit while alive if diagnosed with a terminal illness and given less than six months to live.
Accidental Death Benefit: Coverage doubles if death is due to an accident.
Expanded Family Coverage: Now includes up to five (5) financially dependent children—biological, adopted, or otherwise—for a total of up to nine (9) covered family members.
Critical Illness Rider Enhancements
Optional rider now offers up to $600,000 in coverage, with protection expanded from 5 to 10 critical illnesses:
New additions: Coronary Artery Bypass, Alzheimer’s Disease, Deafness, Loss of Speech, Multiple Sclerosis
What You Need to Do
To avoid any disruption in your FIP coverage, please ensure the following steps are taken by May 30, 2025:
Update Your Payment Method: Adjust your standing order, salary deduction, or online payment to reflect the new premium.
Note for New Enrollees/Plan Changes: If you apply or change plans in May, new premiums will apply.
Ensure Your Premiums Are Up to Date: Outstanding payments could result in loss of coverage.
Reach Out for Help: If you need assistance, send an email to memberrelations@rhand.org.tt or call 627-4263.
We remain committed to ensuring you have access to affordable and meaningful coverage that supports you in life’s most difficult moments.
Thank you for your continued trust.
