In line with its vision, mission, goals and Core Values and in accordance to the definition of microinsurance and microinsurance product ASKI MBA offers life insurance for its members and their qualified dependents.

Applicants shall be charged a one-time THREE HUNDRED PESOS (PhP300) application fee in order to cover the expenses incurred in processing the application This fee is not refundable, nor will it be included for purposes of determining the member's accumulated and refundable contrivutions.

Alalay Sa Pamilya Plan (ASaP)

It is the basic life insurance plan offered by ASKI MBA to its members and their qualified dependents.

Eligibility Requirements

• At least eighteen (18) years old but not more than (60) years old as of the enrollment date.

• Active member of Alalay sa Kaunlaran Microfinance Social Development Inc., and other organized group within the area of coverage of ASKI.

Membership Fee and Contribution

Membership Fee: Php 300.00 (one-time payment and non –refundable)

Weekly contribution: Php30.00

Insurance coverage of BLIP includes the member and the following legitimate dependent:

a.) Legally married spouse but not more than sixty (60) years old;
b.) The member’s three (3) oldest children, legitimate and/or legally adopted children, living at home, and provided that they are at least ninety (90) days old but no more than twenty-one (21) years old or are legitimate children over twenty-one (21) years old but single and disabled to the degree where they are incapacitated to work.

Not Covered by ASaP:

a.) Suicide
b.) Provoked murder due to benefit claim
c.) Fetal death
d.) Failure to pay due contribution after the 31-day grace period
e.) Member's parents
f.) Legitimate child/children below 21 years of age that is married
g.) Legitimate children above 21 years of age
h.) Children that are NOT legally adopted.

Table of Benefits :


1. Total and Permanent Disability Benefit applies to Member only.

2. It is understood that upon death or total and permanent disability of the member, his/her certificate of membership is automatically terminated.

Alalay sa Kabuhayan Plan (AKaP)

AKaP is the credit life insurance product offered by the association. It aims to cover the loss that an organization may carry upon the death of a borrower, and relieve the borrower's family of the burden of repaying the remaining loan.

Maximum Insurable Loan Amount

Shall not exceed five hundred times (500) times of the current daily minimum wage rate for nonagricultural workers in Metro Manila.

Maximum Premium

Shall not exceed five percent (5%) of the current daily minimum wage rate for nonagricultural workers in Metro Manila computed on a daily basis.

Death Benefit

Upon the death of the Insured Debtor, ASKI MBA will pay the Loan Amount insured during the period of coverage in the following manner:
a. The amount of death benefit should be first applied to the outstanding loan balance of the Insured Debtor, excluding interest charges. This amount is payable to the CREDITOR.
b. The remaining balance after deducting from the insured Loan Amount, the amount stated in (a) is payable to the secondary beneficiary/ies declared in ASKI MBA Form No. 10, Debtor’s Application and Declaration of Good Health (Aplikasyon at Deklarasyon ng Magandang Kalusugan at Kasegurohan).