Barbados Credit Unions Funeral Insurance
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THE CO-OPLIFE ADVANTAGE FUNERAL Affordable Family Protection INSURANCE Insurance
•
WHO IS ELIGIBLE TO JOIN?
Members 18-75 years old.
All bona fide members of a Credit Union who have completed one month of continuous membership are eligible to join the plan. Members as well as their eligible dependents can apply for coverage under the plan by answering Four Lifestyle Questions. Eligible dependents are the lawful or commonlawspouse of the member up to age 75 and any Children; including adopted and stepchildren from age 1 to 23. •
Children under 24: Common Law Spouse: Parents no older than
WhyThe Co-opLIFE Advantage •
•
•
80% of persons within the Credit Union have a Line Of Credit or a High Debt Service Ratio. On the death of a family member the Credit Union is unable to help as lending is determined by the Credit Committe. If Youdon’t have $10,000 or more set aside from your regular Savings. You will have to decrease the savings you have sacrificed to save for such things as retirement, home purchase, education, etc. 65% of all working adults are required to assist with the Funeral expense of a parent or child. Every day in Barbados there is a sudden death from a stroke … no time to say goodbye. We plan with excitement for House Warming Parties
GENERAL CONDITIONS • Each member who has enrolled in the plan will be provided with a Certificate Of Membership giving details of who is insured and effective date of insurance protection. Premiums are due and payable monthly and in advance. Initial coverage is for one year; however a member can terminate coverage by giving one (1) month's notice in writing to GUARDIAN LIFE OF THE CARIBBEAN LIMITED. One monthly Premium provides insurance protection for up to six immediate family members. •
Is Co-opLIFE Advantage Affordable
HOW MUCH DOES IT COST? •
Do I have to do a Medical Exam? No, neither you nor your dependants are required to do any medical examinations •
• •
No, you are only required to answer the four Lifestyle questions relative to yourself and to the best of your knowledge, your family •
•
Coverage will be granted if all answers are truthfully answered in the negative (No) •
•
Coverage will be declined on any person for whom a positive response (Yes) is given •
•
Coverage will be effected on the 1st of the month following the acceptance of the application by Guardian Life •
•
WHAT ABOUT CLAIMS?
There is a waiting period of six (6) months from the effective date of the certificate before a claim can be made. •
•
If a death occurs during this period, you have the option of a refund of •
HOW TO SUBMIT A CLAIM •
•
• If a claim occurs after the waiting period the following documents should be submitted to Guardian Life Completed claim form Death certificate Copy of I.D. card • Guardian Life will pay all valid claims within 14 days of receipt of documentation • A maximum of six (6) claims will be paid on a policy
HOW CAN I PROTECT MY FAMILY?
Application forms are available from Guardian Life of the Caribbean • COB/BWU or Public Workers Credit Union Office •Submit the following documents to your Credit Union üCompleted application form üFirst premium payment üCredit Union standing order •
When Do I get my policy? •
• This is a group policy and BCCUL is the owner of the master policy • A certificate would be issued with an effective date of the first of the month following the completion of the application and underwriting by Guardian Life • This certificate would be issued within five working
Contact Us •
Prudential Financial Sales & Services Inc
•
#5 OceanCity, Green Point,St.Philip
•
(246)416-9180246
•
•
COB Cooperative Credit Union Ltd
•
Lower Broad Street,St.Michael
•
Phone:246-436-4745
•
Barbados Public Workers Cooperative Credit Union •
•
Belmont Road,St.Michael
•
Phone:246-430-5258.
•
•
WHO IS ELIGIBLE TO JOIN?
Members 18-75 years old.
All bona fide members of a Credit Union who have completed one month of continuous membership are eligible to join the plan. Members as well as their eligible dependents can apply for coverage under the plan by answering Four Lifestyle Questions. Eligible dependents are the lawful or commonlawspouse of the member up to age 75 and any Children; including adopted and stepchildren from age 1 to 23. •
Children under 24: Common Law Spouse: Parents no older than
WhyThe Co-opLIFE Advantage •
•
•
80% of persons within the Credit Union have a Line Of Credit or a High Debt Service Ratio. On the death of a family member the Credit Union is unable to help as lending is determined by the Credit Committe. If Youdon’t have $10,000 or more set aside from your regular Savings. You will have to decrease the savings you have sacrificed to save for such things as retirement, home purchase, education, etc. 65% of all working adults are required to assist with the Funeral expense of a parent or child. Every day in Barbados there is a sudden death from a stroke … no time to say goodbye. We plan with excitement for House Warming Parties
GENERAL CONDITIONS • Each member who has enrolled in the plan will be provided with a Certificate Of Membership giving details of who is insured and effective date of insurance protection. Premiums are due and payable monthly and in advance. Initial coverage is for one year; however a member can terminate coverage by giving one (1) month's notice in writing to GUARDIAN LIFE OF THE CARIBBEAN LIMITED. One monthly Premium provides insurance protection for up to six immediate family members. •
Is Co-opLIFE Advantage Affordable
HOW MUCH DOES IT COST? •
Do I have to do a Medical Exam? No, neither you nor your dependants are required to do any medical examinations •
• •
No, you are only required to answer the four Lifestyle questions relative to yourself and to the best of your knowledge, your family •
•
Coverage will be granted if all answers are truthfully answered in the negative (No) •
•
Coverage will be declined on any person for whom a positive response (Yes) is given •
•
Coverage will be effected on the 1st of the month following the acceptance of the application by Guardian Life •
•
WHAT ABOUT CLAIMS?
There is a waiting period of six (6) months from the effective date of the certificate before a claim can be made. •
•
If a death occurs during this period, you have the option of a refund of •
HOW TO SUBMIT A CLAIM •
•
• If a claim occurs after the waiting period the following documents should be submitted to Guardian Life Completed claim form Death certificate Copy of I.D. card • Guardian Life will pay all valid claims within 14 days of receipt of documentation • A maximum of six (6) claims will be paid on a policy
HOW CAN I PROTECT MY FAMILY?
Application forms are available from Guardian Life of the Caribbean • COB/BWU or Public Workers Credit Union Office •Submit the following documents to your Credit Union üCompleted application form üFirst premium payment üCredit Union standing order •
When Do I get my policy? •
• This is a group policy and BCCUL is the owner of the master policy • A certificate would be issued with an effective date of the first of the month following the completion of the application and underwriting by Guardian Life • This certificate would be issued within five working
Contact Us •
Prudential Financial Sales & Services Inc
•
#5 OceanCity, Green Point,St.Philip
•
(246)416-9180246
•
•
COB Cooperative Credit Union Ltd
•
Lower Broad Street,St.Michael
•
Phone:246-436-4745
•
Barbados Public Workers Cooperative Credit Union •
•
Belmont Road,St.Michael
•
Phone:246-430-5258.
•
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