" Kalingang Sigurado"

CARE MBA, INC.

Products and Services

Microinsurance products specially designed for members of :

Cooperatives,

Microfinance Institutions, and

other organized groups.

 

  1. Basic Life Insurance Plan (BLIP) – a family life insurance product designed to protect the members and their legal dependents against loss of life. The maximum coverage is Php60,000.00 for accidental death or Php30,000.00 for natural death. The minimum coverage is Php10,000.00 for accidental death or Php2,500.00 for natural death. Premium Contribution is as low as P80.00 monthly or P20.00 weekly.

 

                TABLE OF LIFE INSURANCE BENEFITS
LENGTH OF CONTINUOUS MEMBERSHIP CAUSE OF DEATH OR TOTAL AND PERMANENT DISABILITY MEMBER LEGAL DEPENDENTS
Spouse 2 Children(Each)
LESS THAN 6 MONTHS Due to Pre-Existing Conditions 2,500.00 None None
Due to Accident 10,000.00 5,000.00 5,000.00
6 MONTHS BUT LESS THAN 12 MONTHS Due to Natural Death 5,000.00 2,500.00 2,500.00
Due to Accident 10,000.00 5,000.00 5,000.00
12 MONTHS BUT LESS THAN 24 MONTHS Due to Natural Death 15,000.00 7,500.00 7,500.00
Due to Accident 30,000.00 15,000.00 15,000.00
24 MONTHS OR MORE Due to natural Death 30,000.00 15,000.00 15,000.00
Due to Accident 60,000.00 30,000.00 30,000.00

 

Credit Life Insurance Life Plan (CLIP) or Loan Protection Plan an insurance product specifically designed to pay in full the amount of loan of members in the event of death.

The amount of insurance is equivalent to the amount loan.

 In the event of claim the paid portion (amount paid by the borrower/member) shall be paid to the beneficiary

The unpaid portion (loan balance) shall be given to the cooperative

The premium is as low as 50 per P1, 000.00 per annum   (1.25%/year).