What We Do
What We Do
We provide microinsurance products for members of the Association and their families. We ensure that we cover their microinsurance needs from membership up to
Family Security Plan (FSP) is a Group Yearly Renewable Term Plan which may be availed voluntarily by the member's age 18 to 65 years old to supplement the coverage he/she and his/her dependent/s currently enjoy under the Basic Life Insurance Plan (BLIP). In case of death or total and permanent disability of the insured/s (i.e. member and/or the member’s qualified dependent/s), the designated beneficiaries shall be indemnified in accordance with the table of the benefit of Family Security Plan.
The amount of benefit payable varies according to the cause of death or disability of the member or member’s legal dependent as illustrated in the table of benefits above.
The member will pay ONE THOUSAND PESOS (Php 1,000.00) per year or TWENTY PESOS (Php 20.00) per week for the benefits of the Family Security Plan.
The covered legal dependents of the member in this plan are the following:
1. If the member is married, his/her legal dependents are his/her legal spouse; biological and/or legally adopted children, single, and fourteen (14) days old but not more than twenty-one (21) years old; and biological and/or legally adopted children, over twenty-one (21), single, has a congenital disability and incapacitated to work.
2. If the member is single and unmarried without biological children, his/her legal dependents are her biological parents who are sixty (60) years old and above.
3. If the member is single and unmarried but with children, his/her legal dependents are his/her biological and/or legally adopted children, single, and fourteen (14) days old but not more than twenty-one (21) years old; and biological and/or legally adopted children, over twenty-one (21), single, has a congenital disability and incapacitated to work.
REMITTER PRROTEK PLAN
Remitter Protek Plan is a group-personal accident insurance cover that provides benefits for death, dismemberment/disablement, and daily hospitalization caused by an accident. This plan also provides Motor Vehicular Accident Hospitalization Benefit in case the insured encountered a vehicular accident.
The insured under this plan refers to the member elected in a Center meeting who is tasked to remit the collection of the Center to the Unit Offices, Bank Lite Unit (BLU), or Branches of CARD MRI Microfinance Institutions and other organizations recognized by and affiliated with CARD MBA.
This plan is open to open to all active members of the Center who are at least eighteen (18) years old but less than sixty-five (65) years old. The corresponding premium for this plan is two hundred pesos (PHP200.00) per center per year. The benefit amount payable under the Remitter Protek Plan is as follows: