MICROFUND FOR WOMEN CONTINUES AT THE FOREFRONT OF INNOVATION AND PIONEERS REGION'S FIRST GENDER-SENSITIVE MICROINSURANCE PRODUCT
Amman, Jordan- Women comprise 70 percent of the world's poor. They earn less than men, have less control of property, and face higher levels of physical vulnerability. They are often caregivers, homemakers, and, increasingly, household resource managers and income earners. Considering this combination of vulnerability and responsibility for the welfare of their families, women have a unique and pressing need to manage risk. To address this need, Microfund for Women (MFW), Jordan's leading microfinance institution, has introduced the region's first microinsurance product that recognizes the role of women as caregivers of their families. Afituna is designed to help women and their families' better cope with the incidental expenses associated with hospitalization, such as medical fees, lost income and childcare.
MFW are providing this innovative Microinsurance policy in cooperation with Jordan Insurance Company, to MFW beneficiaries, of which there are currently More than 100,000 . Ninety-seven percent are women. Clients pay a nominal monthly premium with their loan repayment and receive coverage for each night they or any member of their family gets hospitalized, with an amount of 15 JOD. Read more