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 12.50 per P1,000.00 per annum (1.25%/year).
042 373 7789
mbacare@yahoo.com.ph
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At A Glance
MEMBERSHIP UPDATE Particular Number Total Insured Lives 144,382 Total Member Insured 42,591 GLIP Members (Including the Active Members) Resigned 1,052 CLAIMS PAYMENT Particular Number of Individual Amount Basic Life Insurance Program 1,126 19,757,500.00 Death 1,122 19,652,500.00 TPD 4 105,000.00 Refund of Member’s Equity 1052 2,304,562.63 Credit Life Insurance Program 393 […]
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About Us
A licensed microinsurance provider that gives microinsurance products and services to cooperatives and other organized groups nationwide.
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Products & Services
Microinsurance products, Basic Life, Credit Life and Golden Life Insurance Plan OUR MICROINSURANCE PRODUCTS What do we offer? Microinsurance products specially designed for :• Cooperatives,• Microfinance Institutions, and• other organized groups.