As of December 2021
BASIC LIFE INSURANCE
CREDIT LIFE INSURANCE
DAILY HOSPITAL INCOME BENEFIT
TOTAL AMOUNT OF CLAIMS PAID
Basic Life Insurance Plan is the primary product of SEDP MBA which covers life protection to members and their families on unforeseen event especially during untimely death of member and/or his qualified dependents.
With a minimum of Eighty Pesos (P 80.00) monthly contribution the member can avail of the following benefits:
1. DEATH BENEFIT
Member can avail of Fifty Thousand Pesos (P50,000.00) maximum benefit in the event of natural cause of death and One Hundred Thousand Pesos (P100,000.00) maximum benefit during accidental death.
While dependent spouse and parent can avail of Fifteen Thousand (P15,000.00) maximum benefit for natural cause of...
To cover loss of member’s Loan upon Death or Total and Permanent Disability (TPD), SEDP MBA insured the loan of the member with a minimal premium of 1.5% per annum computed based on the loan amount and term.
Credit Life Insurance Plan covers the principal amount of the loan within the prescribed loan term for the benefits stated below:
1. LOAN REDEMPTION
The outstanding loan balance of the member during his/her death or total and permanent disability is considered paid.
SEDP MBA shall assume payment of the outstanding principal amount to the loan provider thereby considered full payment of the loan...
Upon death of member or his/her qualified legal dependents the designated beneficiary shall receive the benefits according to the Table of Benefits under sickness category.
The Total and Permanent Disability (TPD) shall mean disability caused by bodily injury or disease which prevents the member from engaging in any gainful activity
Disability with dismemberment
If a member...
Eligibility & Benefits:
1. Hospital confinement of the member for not less than twelve (12) hours.
2. SEDP MBA shall pay Two Hundred Pesos (Php 200) daily hospitalization benefit up to five days within a year.
Upon termination of membership Fifty Percent (50%) of premium contribution will be refunded to member
REV. FR. REX PAUL B. ARJONA
President and Chairman
WHY IS THE CHURCH INVOLVED IN THE MICRO-INSURANCE BUSINESS? To us at SEDP-MBA, the answer is simple: because we would like to serve the poor better. We started with (and still do) various programs for the poorest and most vulnerable – nutrition, disaster response, sustainable agriculture, coastal resource management, among others. Then some 25 years ago we piloted a social enterprise program to support women micro-entrepreneurs with micro-financing, skills training, and other support services. It has succeeded in helping many families of entrepreneurial poor to improve their overall well-being and progress out of poverty. It has since grown into the largest Church-based microfinance NGO in the country today, SEDP Inc.
Getting into micro-insurance, a decision made more than ten years ago, was a natural progression in line with SEDP’s mission to empower the poor in the spirit of the Gospel. Micro-insurance, especially in the mode of a members-oriented and members-led mutual benefit association (MBA), provides social protection that addresses vulnerabilities of significant income-loss due to death or illness in the family. Under the umbrella of SEDP MSI (Mutually Supporting Institutions), microfinance and business development services enable our members to move forward to better lives and more opportunities, while micro-insurance helps them sustain these gains by protecting them from setbacks along the way.
Soon we hope to provide more protection relevant to our members’ expanding needs, including risks due to climate-induced disasters, even as we seek to continuously improve our services and reach out to more sectors to fill-in their gaps in social protection.
Microinsurance MBA Association of the philippines
(Plaque of Membership)
Social Initiative Against Catastrophe (SICAT)
(Plaque of Appreciation)
(Plaque of Recognition)