Microinsurance Overview

Almost all rural banks provide access to Mortgage Redemption Insurance (MRI) or Credit Life that guarantees the loans of their microenterprise borrowers.  However, MABS field studies reveal that these clients demand more than just loan insurance. 

Being most vulnerable to financial shocks, like the loss of an income earner due to death or disability, place microenterprise client households deeper into poverty as they resort to drastic measures (e.g. selling productive assets, suspending children’s education, etc.) to cope with the losses. READ MORE

Insurance Products


Enhanced Microinsurance Services for Rural Bank Clients


1. Life Insurance

Not limited to credit guarantee but will include coverage for the household in case of death of the bank client as well as other family members

2. Accidental Death and Dismemberment (AD&D)

May be designed as a rider of the Credit Life Insurance, providing protection against sudden loss of income for the client and his/her family

3. Hospitalization Insurance

Key to marketability will be simplicity of the package, affordability and coverage for the bank client and his/her family members

4. Property / Assets Insurance (for further study)

Package should provide for financial protection against the loss of or damage to real and personal property caused by perils as fire, typhoon, flood, and other natural catastrophes.

 

 

Insurance Products


Assistance Alliance International, Inc. (AA International)

Credit Life with AD&D (includes coverage for spouse and dependents and medical expense benefits)

 

Country Bankers Life Insurance Corp.

Life Insurance (with AD&D rider plus benefits and coverage for spouse and legal dependents)

 

MicroEnsure Philippines

Weather Based Index Crop Insurance

 


Philippine Prudential Life Insurance Company, Inc.

Group Yearly Renewable Term

 

 

United Coconut Planters Life Assurance Corp.

Group Yearly Renewable Term (with AD&D rider)

 

 

MAPFRE Insular


 

Manila Bankers Life Insurance

 

 

 

 



News & Updates


Rural Bank of Bogo

 


 

Microinsurance Partners



Credit Life with AD&D
(includes coverage for spouse and dependents and medical expense benefits)

Contact Person: Kathy C. Tamayo (President)
Landline: (02) 813 8080 / 751 0000
Mobile: (0917) 825 7088
E-mail: ktamayo@aa-international.com.ph
Website: www.aa-international.com
REQUEST FOR DETAILED PRODUCT INFORMATION

 

 

Life Insurance
(with AD&D rider plus benefits and coverage for spouse and legal dependents)

Contact Person: Jabbar B. Mendoza (Business Development Supervisor)
Landline: (02) 523 7151 / 523 8611 to 18
Mobile: (0908) 895 8374
E-mail: juanners@hotmail.com / jabbarm@cblic.com
Website: www.countrybankerslife.com
REQUEST FOR DETAILED PRODUCT INFORMATION



Weather Based Index Crop Insurance

Contact Person: William H. Martirez (Country Manager)
Landline: (033) 329 0729
Mobile: (0920) 945 0729
E-mail: william.martirez@microinsuranceagency.com
REQUEST FOR DETAILED PRODUCT INFORMATION


 

Life Insurance (Group Yearly Renewable Term)

Contact Persons: Eric Falcon (Assistant Manager)
Juan Paolo De Dios (Account Sales Executive)
E-mail: efalcon@philippineprudentiallife.com
E-mail: jdedios@philippineprudential.com


United Coconut Planters Life Assurance Corp.
Group Yearly Renewable Term (with AD&D rider)

Contact Person: Maricar Miranela-Mangulabnan (Senior Assistant Manager - Business Development Department)
Landline: (02) 841 9568 / 841 9570 
Mobile: (0917) 577 6512
E-mail: maricar_mangulabnan@cocolife.com
Website: www.cocolife.com
REQUEST FOR DETAILED PRODUCT INFORMATION



MAPFRE Insular

Contact persons: Luis C. Cebrero, Jr. (Senior Marketing Officer - Microinsurance)
Tomas V. Mayoralgo, Jr. (Program Director - Microinsurance)
Landline: (02) 876 4406
Fax: (02) 876 4344
Website: www.mapfreinsular.com



Manila Bankers Life Insurance

 

Contact Person: Levi Clyde R. Almalvez
(Business Development Officer)
Landline: (02) 810 1072 local 206
Mobile: (0922) 802 6334
Email: leviclyde19@yahoo.com.ph
Website: www.mblic.com.ph
REQUEST FOR DETAILED PRODUCT INFORMATION

Pioneer Insurance

Contact Person: Geric G. Laude
(Vice-President- Microinsurance)
Landline: (02) 812 7777 local 361 (Makati)
(032) 238 4428 (Cebu)
Mobile: (0917) 535 5447
E-mail: geric.laude@pioneer.com.ph
Website: www.pioneer.com.ph/
REQUEST FOR DETAILED PRODUCT INFORMATION


DOWNLOAD DATABASE MATRIX OF MABS PARTNER INSURERS <<EXCEL File>>


 

Reference Links and Downloads


BSP Circulars, Regulations and Guidelines

•    BSP Circular 683: Marketing, Sale & Servicing of Microinsurance Products
•    National Strategy for Microinsurance
•    National Regulatory Framework for Microinsurance

Forms and Letters

•    Pro Forma Agreement
•    Letter of Intent

Brochures and MABS Monthly News Briefs

•    MABS Microinsurance Partners (Excel file)
•    MABS Monthly Highlights



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