Notice of Rate Adjustment and Additional Benefits to the Family Indemnity Plan (FIP)

Dear Valued Member,

We write to inform you that effective June 1^st, 2025, the Family Indemnity Plan, from CUNA Caribbean Insurance, will be offered as follows: 

New FIP Premiums              

This change comes after the company’s annual actuarial reviews of the overall claims experience and having done all to maintain stable rates for a period of over fifteen (15) years.  The increased premium also comes with exceptional value for coverage including the following newly introduced benefits:

1. Terminal Illness Benefit: If an Insured Member or Person is diagnosed with a terminal illness and has less than six (6) months to live, they can receive their full Plan Benefit while still alive.
2. Accidental Death Benefit: If the Insured Member dies due to an Accident, the Plan will pay double the Coverage amount.
3. Coverage for More Children: The Plan now covers up to five (5) children. Expanded coverage will extend to children who financially depend on the Insured Member, whether they are biological, adopted, or otherwise. This therefore means that the Plan will now cover up to nine (9) family members.

The optional CI Rider benefit available to the Primary Insured Member on the plan has been expanded to offer up to six (6) Coverage levels with benefits up to TTD$600,000* . Critical Illness protection has increased from five (5) to now cover up to ten (10) critical illnesses including Cancer, Heart Attack, Stroke, Major Burns, Coma, Coronary Artery Bypass (new), Alzheimer’s Disease (new), Deafness (new), Loss of Speech (new), and Multiple Sclerosis (new). *Conditions and Waiting periods Apply.

It is important that you ensure your credit union account is updated to maintain coverage under this plan. If applicable, please visit us no later than May 1^st, 2025, should present deductions be insufficient to service your plan at the new premium rates.

For further details or clarification on any of the above please feel free to contact our main office lines at 612-0273 or 235-8130 or send an email to info@tranquillitycu.com.

To sign up or upgrade your coverage under this plan send an email to marketing@tranquillitycu.com or WhatsApp us at 868-335-1383. Please note that all New Enrolments and Change of Plans completed in the month of May will be subjected to New Premium rates as outlined in the table above as coverage will be effective June 1, 2025.

We wish to take this opportunity to thank you for your understanding and co-operation as we work together to ensure the best available protection for you and your families.

Sincerely,

TRANQUILLITY CREDIT UNION