Through Cuna Mutual, we provide insurance for all members on their shares and loans.
The coverage for loans is up to a maximum of $1.2 million. The coverage for savings is up to a maximum of $400,000.00. For savings, the funds must be in the Credit Union before the member reaches age 70.
If you die within the specified ranges on the following table, then your beneficiary will get the indicated percentage on your shares.
| 1. |
18-54 |
100% |
| 2. |
55-59 |
75% |
| 3. |
60-64 |
50% |
| 4 |
65-69 |
25% |
| 5 |
70 |
0% |
|
The Family Indemnity Plan provides insurance coverage for loved ones. It involves the payment of a cash amount for funeral expenses for a member and/or eligible family members. Up to a maximum of 6 persons can be on the plan.
There are four coverage plans, from which the member may choose. Costs and benefits vary according to the plan chosen as follows:
| Plan A |
$80,000 per person |
| Plan B |
$120,000 per person |
| Plan C |
$150,000 per person |
| Plan D |
$250,000 per person |
|