TSPI MBAI’s insurance plans are called “KAAGAPAY PLANS”. The term Kaagapay is coined after the Filipino word “ka” which means associate/fellow and “agapay” which means to assist or to be by one’s side.
Through the Kaagapay Plan, the members can avail of:
BLIP
Kaagapay Basic Life Insurance Plan (BLIP)
Kaagapay Basic Life Insurance Plan (BLIP) is a mandatory insurance with a premium of P240 per annum. The coverage includes death and accidental death benefits, accidental dismemberment/ disablement and total and permanent disability. It covers both the member and qualified dependents. Members have equity value equivalent of P120 or 50% of the premium.
Life Plus
Kaagapay Life Plus Insurance Plan (Life Plus)
Kaagapay Life Plus Insurance Plan (Life Plus) – It is an optional plan with a premium of P240 per annum and a benefit twice as that of BLIP. It can be availed up to 5 units per member at any given time.
Life Max
Kaagapay Life Max Insurance Plan (Life Max)
Kaagapay Life Max Insurance Plan (Life Max) – It is an optional plan with a premium of P650 per annum. The coverage includes death, accidental death, hospital income and total and permanent disability benefits. It can be availed up to 5 units per member at any given time.
GLIP
Kaagapay Golden Life Insurance Plan (GLIP)
Kaagapay Golden Life Insurance Plan (GLIP) – Is an optional life insurance plan for those who have been BLIP members for at least six (6) years prior to reaching the age of 66. The premium of P10,850 is payable in 10 years. The coverage is up to age 100.
CLIP
Kaagapay Credit Life Insurance Plan (CLIP)
Kaagapay Credit Life Insurance Plan (CLIP) is a mandatory credit plan for members that offers both life and credit life insurance benefits. The premium is PhP1 per thousand of loan availed per week.
MRI
Kaagapay Mortgage Redemption Insurance (MRI)
Kaagapay Mortgage Redemption Insurance (MRI) – A mandatory credit plan for members that covers the outstanding loan amount of the client. The premium is Php 10 per thousand per year.
SAMBAYANIHAN
Sambayanihan is a combination of the words “Samba” and “Bayanihan”. Samba accentuates that serving others is a God-given mission and we do it in a way that will bring glory to our God. Bayanihan gives opportunity to staff and clients to demonstrate love and service in their community, which is TSPI’s mission. Sambayanihan is the social development program of TSPI MBAI. It will benefit MBA members and their kapamilya, through activities which includes values formation, enterprise training and development, capacity building, health and sanitation programs, and disaster and medical assistance. These are implemented in partnership with TSPI NGO, its client leaders and other organizations and government agencies sharing the same mission of serving poor families.