Question - What is the Family Indemnity Plan?
Answer - The Family Indemnity Plan (F.I.P.) is a Final Expenses plan associated with funeral expenses that covers you, the member and five(5) members of your family.
Question - Who are the eligible family members covered by F.I.P.?
Answer - The member (up to age 76 years) Member's spouse or significant other (up to 76 years). A significant other is a person of the opposite sex who lives with the member and is considered to be the Insured's common-law spouse. Unmarried dependants between the ages 1- 25 years (biological or non-biological) Members' parents or spouses' parents (up to 76 years) All adults (not dependants) need to join the plan before reaching age 76.
Question - How much does the F.I.P. cost?
Answer - Choose the plan that best suits you.
| Plans |
Premium |
Benefit |
| PLAN A |
$52.80 monthly |
$10,000 |
| PLAN B |
$79.20 monthly |
$15,000 |
| PLAN C |
$105.60 monthly |
$20,000 |
| PLAN D |
$158.40 monthly |
$30,000 |
| PLAN E |
$211.40 monthly |
$40,000 |
Question - Is my account insured?
Answer - Yes. Member's shares are insured up to $35,000 TT. This coverage is provided by CUNA Caribbean Insurance Society Limited.
Question - How do I credit money to my account?
Answer - Members can use any of the following options to put money in their account:
- Salary Deduction - from the work place
- Standing Order - from the bank
- Post-dated Cheques
- Deposits over the counter
Question - When I retire can I still remain a member of RHAND Credit Union?
Answer - Yes. Members who have retired from the work place can still enjoy the benefits of being a RHAND member. You are free to join RHAND Retiree’s Group which organizes several social events throughout the year. You can also enjoy reduced interest rates on Cruise Loans. All members must continue to contribute to their Shares Account ($5.00 minimum monthly) in order to maintain an active membership status.