Microinsurance Models for the Most Vulnerable, 18th Microcredit Summit, Abu Dhabi UAE, March 14-17, 2016

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MFW Caregiver Insurance
Program to Protect Against
Health Emergencies
Bdour Alhyari
Business Development Manager – Microfund forWomen

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MFW Background
• First microfinance program in Jordan
• Over 125,000 active borrowers(96% female,
35% market share )
• Portfolio: US$ 44 million
• More than 818,000 loans disbursed at a value
of over JD 336 million since inception
• 99% repayment rate
• 55 branches all over Jordan
Quick Facts Mission
Vision
MFW’s mission is to provide sustainable
financial and non-financial services to
the entrepreneurial poor, especially
women, in order to empower them
socially and economically, and to help
them achieve a better quality of life
Microfund forWomen envisions a more
equal and just society in which women
in particular are empowered to break
the cycle of poverty, achieve prosperity
and live inclusive lives.

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Background on MFW Microinsurance
Programs
Microfund for women had adapted the micro-insurance concept to be included in its financial
services bundling to work toward its financial inclusion strategy ; starting with launching the
credit microinsurance product in 2006 (Himaya), protects against loan default in the case of
death, partial or total disability;

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Background on MFW Micro-insurance
Programs
In April 2009, MFW launched a micro-insurance product
that enables our clients to better cope with financial
burdens associated with health emergencies; and another
micro-insurance service was extended to offer a hospital
cash service (Riaya) that provides beneficiaries 21
USD per each night spent in hospital for receiving medical
treatment.
Continuing its clients
needs’ research ,
designing , piloting and
development in order to
tailor a suitable service
that can overcome the
occurred challenges. In-
depth gender research
conducted on over 1,000
clients revealed; majority
not insured and use public
facilities, most pay for
health from savings or
borrowings, positive view
of health insurance and
basic capacity to pay,
most women have an
important caregiver role
in their home

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Background on MFW
Microinsurance Programs
In November 2015, MFW piloted a bundled
insurance program called “Afitna” that
combines credit life and cash hospital benefits
and compensate in case beneficiaries or any
member of their families were admitted into
the hospital ,caused by an accident or illness,
an amount of JOD 15 per each night in

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Performance

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Outcomes from the Caregiver Cash Benefit
product on women’s livelihoods

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Points of Consideration

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www.microfund.org.jo