The National Confederation of Cooperatives Mutual Benefits Association (NATCCO MBA) Inc. was established to extend financial assistance through quality and affordable microinsurance products for its members.
NATCCO MBAI partners with cooperatives, associations, and organized groups to ensure their members have access to insurance products that can help them in times of unexpected death or sickness.
1. Basic Life Insurance Plan (BLIP)
OUR MEMBERS’
ELIGIBILITY
(WHO CAN ENROLL?):
- Basic Life Insurance Product
- Single contract that covers the entire group
- Covers the coop members, and gives the life insurance benefits in the event of member’s or dependent’s death
Principal Member:
- Principal Member of Cooperative
- 18 – 64 years old (exit age is 65 years old)
- In good health and able to perform daily normal chores
Dependents:
For MARRIED Principal Member:
- Spouse: 18 to 64 years old and in good health condition
- Children: 5 to 20 years old, single, in good health condition (exit age is 21 years old)
For UNMARRIED/SINGLE Principal Member:
- Parent: 18 to 64 years old and in good health condition
- Children/siblings: 5 to 20 years old, single, in good health condition (exit age is 21 years old)
2. Credit Life Insurance Plan
(NMBAI YAMANG PROTEKTADO)
- Credit Life Insurance Product
- Designed to pay off the Member-Borrower’s debt, if he/she dies
-
Maximum loan amount to be insured:
P1,000,000.00 – member-borrower ages 18-64
P5,000.00 – P40,000.00– member-borrower ages 65-75
Frequently Asked Questions
How to claim death benefits on insurance?
- Members must first inform and provide necessary documents to their respective coop branch
What are the requirements for death claims?
- Claim Form
- Coop Application Form
- Death Certificate of insured: Original or Certified True Copy (Signed, Sealed and numbered by the Civil Registrar)
- Birth or Baptismal Certificate of the Insured
- Birth Certificate of the Beneficiary
- Marriage Contract (If member is married)
- Health Questionnaire (with proxy vote)
- Claimant's Statement use NMBAI Form
- Physician Certificate use NMBAI Form
- Police report if death is due to accident
- Post Mortem/ Autopsy Report (If any)
- 1 Photocopy of valid ID of insured