FINCA Peru is always thinking about women and their families and therefore united with Securities “La Positiva” to launch Microinsurance:

This security is offered to all our members and can be attained by our offices in Lima, Ayacucho, and Huancavelica.

Since November 10th, 2008, FINCA Peru offers a microinsurance product to their clients called FINCA Vida, in partnership with La Positiva Vida Seguros y Reaseguros. In December of 2009, 13,205 members, equaling 89% of FINCA Peru’s total clients, were found to be affiliated with FINCA Vida. It costs the small monthly payment of 1 sol, and the compensation covers them up to 2,700 soles for natural death and 5,400 soles for accidental death.

In December of 2009, the families of 12 members received compensation for their deceased. It represented support in very difficult times for their debts. Of our 12 deceased members, 8 passed away of natural causes and 4 of accidents.

We are very pleased to offer this product to FINCA Peru’s members. It has received a great deal of excitement from our members because with FINCA Vida we are able to contribute to their peace of mind.

During 2010 we will be increasing the maximum age of membership from 65 to 70 years and of continuance from 70 to 72 years. We are also analyzing the possibility of including as affiliates the spouses and children of our members.

In November of 2009, we participated in the Micro Insurance Market Study in Peru held by Planet Finance. Their objective was to identify microinsurance products to develop from the perspective of the microentrepreneurs. In a second stage, they completed the design of new products that could be offered at microfinance institutions.

We hope to continue our partnerships in order to develop and offer innovative products that may satisfy the distinct needs of FINCA Peru’s microentrepreneur women clients.