MFW (Jordan) Pioneers the Region's First Gender-Sensitive Microinsurance Product
In May of 2010, WWB’s network member Microfund for Women in Jordan (MFW) introduced a first-of-its-kind insurance product that helps low-income women better cope with the financial burdens associated with a medical emergency.
During the past thirty years, microfinance has emerged as one of the most effective tools for poverty alleviation, currently reaching over 155 million poor clients. Though this movement has been credit-led, there is a high demand, and very limited access, among the poor for asset-building products like savings and insurance. Women compromise 70 percent of the world’s poor, earn less income than men and have less property. They face disproportionate levels of physical vulnerability and violence, and added healthcare risks due to childbirth. To respond to this unique and pressing need to manage risk, WWB has introduced the “Caregiver Health Insurance” program in partnership with Zurich Financial Services and MFW.
Mary Ellen Iskenderian, President and CEO of WWB, commented: “Women, more often than not, are the family’s primary caregiver. During a health event, there’s more than just medical expenses – lost wages, childcare, even transportation to and from the hospital – all add pressure on that household during a tough time. The CareGiver Program is designed to address just that issue.”
Though it was introduced in April of 2010, the program already serves over 100 clients, and awarded its first claim in May to Naela Hamdan who received a check for three days of lost income while she was in the hospital for a stomach infection.
“We were very happy when we heard about the program; I didn’t expect to be the first beneficiary. I had a stomach infection and I had to stay at the hospital for three days. MFW quickly responded to my claim… and I got US $42, US $14 for each night I spent in the hospital. Since I had to close my business, such a program brings relief to the mind.” –Naela Hamdan
Read the official MFW press release
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