Name of the product. Mi Familia Municipal. Name of the company. Protecta. Type of company/organization. Commercial insurer

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1 Name of the product Name of the company Type of company/organization Mi Familia Municipal Protecta Commercial insurer Legal license (for formal insurers only) Life Risk covered Country Life Peru Disclaimer This document aims to describe, but not evaluate, microinsurance products being offered, and relies on information provided by our partners. As the products may be in various stages of testing their performance and value for clients, they can be subject to change. For more information on the context in which the product is offered, please refer to the partner's profile and learning journey. Please include any comments about the product or the project overall in the "add comment" section on the learning journey page. 1

2 Product description Type of product Coverage description in detail, including the purpose of insurance Benefits / Sum insured of the product Term Life (basic plan) Personal Accident (Senior plan) The " Basic Plan " offers coverage to people from 18 years to 69 years (inclusive) of age as limit of permanency. It offers the following coverages: a. Natural death: Death of the Policyholder as a result of disease or age. b. Accidental death: Death of the Policyholder only as a consequence of an accident. c. Funeral Expenses: The Company will indemnify the funeral expenses to the Beneficiaries for Insured amount, after the Policyholder's death have been justified due to natural or accidental reasons. d. Total and Permanent disability for Accident: The Company will indemnify the Beneficiary the insured amount due to accident when the policyholder suffers a Total and Permanent Disability. e. Sudden Family abandonment: The Company will indemnify the 18-year-old, 18-year-old minor and / or major children with total and permanent disability, of the Policyholder and his Spouse or Cohabitant, the Insured Amount stipulated in the Policy, if the Policyholder and his Spouse or Cohabitant suffer the same accident, in the same event covered by the Policy, which gives place to the death of both. The " Senior Plan " offers coverage to people from 70 years to 80 years of age (inclusive) as limit of permanency. It offers the following coverages: a. Accidental death: Death of the Policyholder as a consequence of an accident. b. Funeral Expenses by Accidental Death: The Company will indemnify the funeral expenses to the Beneficiaries for Insured amount, after the Policyholder's death have been justified due to accidental reasons. Basic plan: 2

3 Senior plan: Additional non-insurance services bundled with the product Protecta Benefit Card, which grants a program of discounts and preferred rates in the establishments affiliated in the region, principally related to health. 3

4 Terms and conditions Insured Policyholder Term length of the policy Eligibility criteria (age limits, health limitation etc ) Key exclusions (if any) 1 year Basic plan: Minimal Age for entry : 18 years Maximum age permanency: 69 years (inclusive) Senior plan: Minimal Age for entry: 70 years Maximum age permanency: 80 years (inclusive) Basic plan: a. Conscious or unconscious Suicide, auto mutilation or auto injury, being or not the Policyholder in his healthy judgment, except that had passed two (2) years complete from the date of the insurance contract or from the last rehabilitation. b. Active participation in any act against the Law, being an author, co-author or accomplice. c. War or civil war, invasion, acts of foreign enemies, hostilities or warlike operations, declared or not, revolution, insurrection, revolt, sedition, riot, terrorism, civil commotion. d. For criminal act against the Policyholder committed as author or accomplice for the Beneficiary or inheritor, leaving the right of receiving the insured amount of the remaining Beneficiaries or inheritors, if any. e. Nuclear detonation, nuclear reaction, nuclear radiation or radioactive pollution, and the consequences of the use of chemical and / or bacteriological weapon. f. Epidemics or massive infections of any type. g. Terrorist Assault with unconventional weapons. Senior plan: a. Conscious or unconscious Suicide, auto mutilation or auto injury, being or not the Policyholder in his healthy judgment, except that had passed two (2) years complete from the date of the insurance contract or from the last 4

5 Deductible/Copayment Waiting period (in number of days) for coverage to begin Ceiling (if any) of the benefits Renewal (and requirements if any) rehabilitation. b. Active participation in any act against the Law, being an author, co-author or accomplice. c. War or civil war, invasion, acts of foreign enemies, hostilities or warlike operations, declared or not, revolution, insurrection, revolt, sedition, riot, terrorism, civil commotion. d. For criminal act against the Policyholder committed as author or accomplice for the Beneficiary or inheritor, leaving the right of receiving the insured amount of the remaining Beneficiaries or inheritors, if any. e. Nuclear detonation, nuclear reaction, nuclear radiation or radioactive pollution, and the consequences of the use of chemical and / or bacteriological weapon. f. Epidemics or massive infections of any type. g. Terrorist Assault with unconventional weapons. Not applicable Not applicable Not applicable Not applicable Insurance policy documentation to be provided at registration 5

6 Premium Premiums price (either amount or rates) Basic plan: Senior plan: Currency Nuevos Soles (US$ 1 = S/.3.00) Average premium / beneficiary / month (in local currency) Payment frequency Monthly or Anual Premium subsidized by donors or government (i.e. part of the premium cost is paid to the risk carrier by donor / government on a regular basis) Description of subsidy(ies) type(s) No Other financing mechanism (cross subsidizes across product lines, target population, copayment between employee and employers) used (if any) Premium collection method By check Target Market Description of target population Rural, Urban, Peri-urban Urban 6

7 Approximate percentage of the total number of people covered work in the informal sector Approximate percentage of the total number of people covered considered as poor (living on less than 2 USD/day) Type of policy Type of product (voluntary or compulsory) More than 75% Less than 25% Group Voluntary Product launch date February, 2009 Number of active policies as of September 2010 Number of active beneficiaries of September ,918 (basic plan) 5,992 (senior plan) 87,213 (basic plan) 20,972 (senior plan) Claims Claims declaration process Send documents to the institution (municipality) Documentation required for claim Payment method Death certificate of the policyholder Identity Document of the policyholder Identity Document of the beneficiaries Identity Document or birth certificate of 18-yearold minor and / or major children with total and permanent disability Police Certificate Medical certificate that indicates the disability of the policyholder By check Technology Technological products used Processes automated through technology Others: Insurance Systems & Customer Relationship System Claim payment Information transfer 7

8 Distribution Distribution partner (by order of business size) N 1 Municipality Other information Main challenges faced in selling/managing this product Additional comment Convincing to the municipality authorities about the benefits of this product for its citizens. Contact person Website Celia Calagua - ccalagua@protecta.com.pe Jose Bazo -jbazo@protecta.com.pe Alfredo Salazar -asalazar@protecta.com.pe 8