Micro Insurance Service

Micro insurance Service

VVS is providing micro insurance product that address client’s needs for risk management in additional to its saving and credit products clients are highly vulnerable to economic shocks caused by events such as death of family member, illness, destruction of valuable assets of a disabling injury.  The clients are offered term life insurance linking them with insurance companies. In case of client’s natural death, their family or responsible person will not need to pay loan. Insurance company compensates total loan amount and give some expenses for funeral. If client dies in accident, company provides 200% of loan amount to their family and some funeral expenses. If client is fully disabled to work from accident, company compensates his total loan.

Security Fund

Skill development, Life and housing Protection Scheme

Skill development, life and housing protection scheme is provide skill development program, compensate the damage of the member’s residential house caused by natural calamities and death of a member and/or husband. Minimal fee of NRs.100 for the first year, NRs 100 for the each successive year and 0.35% amount of loan.  In case of death of the member minimum 8000 to NRs 10,000 is provided as compensation. Similarly, in case of husband’s death minimum 4000 to Rs.5000 is provided as compensation The member’s compensation amount is paid to the family member. Further, minimum 1000 to NRs 5,000 is provided as compensation in case of the damage of house caused by natural calamities. In an addition to seek safe motherhood NRs 1,000 is provided to the member for the first two delivery cases. After two deliveries if member joint at permanent family planning program Rs.500 is provided. And also scholarship is providing for member son or daughter on the talent hunt basis for one child each branch. Further additional a maximum Rs. 3000 is provide for medical treatment  if client’s family member hospitalized for the causes  of bite of dangerous wild animal. In this scheme organization is also provide skill development training for members to develop their own skills.