Fondo Esperanza has a new microinsurance service for Chilean entrepreneurs in addition to the tools the bank provides for this segment and their families to ensure they have a fallback in the case of incidents that might affect their income.
The new presentation “Mi familia protegida” (My family protected) will benefit over 100,000 people in the bank’s 53 branch offices. For the sum of $799 a month, charged to the microcredit payments, entrepreneurs can access a microinsurance that can be used by the beneficiary in the case of an accident which causes the death, total and permanent disability, or loss of limbs to the holder. It also includes an endowment for the funeral expenses of the holder subscribing the product.
According to Mario Pavón, general manager of Fondo Esperanza, the new microinsurance “is the reflection of the constant preoccupation of our organization for its entrepreneurs. At Fondo Esperanza we work to make sure they have a variety of products that serve as a genuine support to enable them to make real progress in their businesses and develop in the social aspect in order to overcome their state of vulnerability”.
“Mi familia protegida” is the result of the alliance signed between Fondo Esperanza, AIG Chile Compañía de Seguros Generales and Emprende Microfinanzas. The entrepreneurs in Fondo Esperanza can access this microinsurance in their local bank when they request a new loan.