RAFI Micro-finance, Inc. (RAFI MFI), a microfinance institution engaged in providing services to underprivileged micro-entrepreneurs, has announced the launch of an affordable micro-insurance product, Family Relief Plan (FRP), with an insurance premium of Php 14 per month.
More information can be found at the organization’s official Facebook page at: https://www.facebook.com/rafimicrofinance/
The affordable micro-insurance plan is intended to provide a means for RAFI MFI clients to shelter their loved ones from possible financial hardships in the event of their passing. FRP is aimed at minimizing the financial impact that funeral and burial expenses can have on the client’s bereaved family.
“The Family Relief Plan is a micro-insurance package that offers additional protection for the client’s family in times of client death. A death in the family is not only emotionally devastating, it is also financially straining on the bereaved family who have to cope with the grief,” said RAFI MFI Chief Operating Officer Jonar B. Dorado.
With an affordable premium coverage, the FRP is designed to provide peace of mind and reduce unexpected financial burden.
In keeping with its promise of providing comprehensive financial services that respond to client needs, especially in challenging times, RAFI MFI’s new service also provides cash assistance and in-kind pack on top of the existing death claim benefit.
When an accident happens, aside from the grief and emotional burden, many families suffer financial distress due to the unforeseen expenses associated with the mishap. With the FRP, RAFI MFI’s clients can feel secure that their family’s financial needs are taken care of in the event of their passing.
RAFI Micro-finance, Inc. is a program of the Ramon Aboitiz Foundation Inc. (RAFI) that is engaged in providing micro-finance services to underprivileged entrepreneurs. They are currently operating in the provinces of Biliran, Bohol, Cebu, Eastern Samar, Iloilo, Leyte, Negros Oriental, Negros Occidental, Samar, Siquijor, Southern Leyte, and Misamis Oriental, and serving more than 352,000 households.