Safety net in times of uncertainties
A total of 155 microfinance clients of CARD, Inc. and CARD Bank, Inc. in Agdao and Sasa, Davao City who were affected by the fire incident on November 24, 2017 received a relief assistance from CARD Mutual Benefit Association (CARD MBA). This is to temporarily assist them while recovering from the situation.
All microfinance clients of CARD, Inc. and CARD Bank are automatically enrolled in CARD MBA and are entitled to life insurance benefits. Moreover, clients are also entitled to some non-financial services such as the CARD MRI Disaster Relief Assistance Program (CDRAP). The relief packs include two kilograms of rice, canned goods, and medicines.
The re-house program, which is crucial in times like this, is an optional non-life insurance product offered by the other microinsurance arms of CARD Mutually Reinforcing Institutions (CARD MRI), the CARD Pioneer Microinsurance, Inc. (CPMI) and CARD MRI Insurance Agency (CaMIA). Clients may opt to loan an insurance product for their houses that is payable in one year. As per validation, no affected clients availed of the re-house program; however, they are now considering to get an insurance for their respective houses.
CARD, Inc., CARD Bank, and CARD MBA are all members of CARD MRI, a social development organization that is in the business of poverty eradication.