Family Indemnity Plan

What is the FIP?

In simple terms, the FIP is an insurance plan designed to cover up to six (6) persons on a single contract, paying cash benefit which can be used to cover the funeral expenses for you and the eligible family members.

Who can be covered under the FIP?

  A maximum of 6 persons can be covered at one time:

  • Credit Union member (who have not yet reached the age of 76 years at the time of enrolment).
  • Member’s Spouse/Significant other (who has not yet reached the age of 76 years at the time of enrolment).
  • Spouse/Significant Other means a person of the opposite sex who lives with the Member and is considered to be the Insured’s common law spouse.
  • Member’s unmarried children, including dependent children under legal guardianship (adopted and step-children) and are ages 1- 25 years (coverage terminates upon 26th birthday).
  • Permanently disabled children for the duration of their life if enrolled prior to age 26 (the permanence and degree of such impairment shall be supported by medical evidence).
  • Parent(s) and/or Parent-in-law(s) where eligible, who have not yet reached the age of 76 years at the time of enrollment.