NESDO Nepal’s Client Protection/Welfare Scheme:
NESDO Nepal provides two types of welfare scheme to its member
1.Life and House Protection Scheme/Fund.
2. Loan Security Scheme/Fund.
Life and House Protection Scheme/Fund:
NESDO Nepal started this fund in 2062. NESDO Nepal observed that most of the members and their family members suffers from various common diseases and spent a lot of money for medical treatment. In most cases they use money from their business or borrow from other source which makes their economic situation worse. Groups members asked to find some solution to address these common problems. We there for came up with the idea of forming a Fund Called Life and House Protection Fund with the joint contribution of NESDO and group member. The main purpose of the creation of the fund is to support group members and their family members in case of maternity , death, accident etc.
NESDO Nepal uses its branch offices to implement micro insurance. NESDO Nepal reaches its clients through its branch offices. In case of any claim of death, accident, delivery, natural disaster etc the clients inform the respective center manager who along with branch manager investigate the case. In every case groups/center recommendation is necessary to get the claim.At the same time the clients or his/her nominee has to produce necessary document. The branch manager authorized to pay the claim.
Every member of a center has to Pay Rs.100 as premium per year. It is valid for one year only. After the completion of one year if the members do not deposit another premium of Rs.100 then they will not get the benefits.
NESDO Nepal’s Life & house Protection Scheme has 6 components
2.1. Death of the Member.
2.2.Death of Member’s husband.
2.3.Death of family member due to lighting.
3.Natural disaster Support.
4.Scholarship support for client’s Children.
5.Accidental Treatment Support.
6. Family Planning Support.
|1.||Maternity Support (for 1st & 2nd child)||Rs 1000 each||Birth Certificate|
|2.||Members Death*||Rs.2500 to Rs.4000||Death certificate|
|3.||Member’s Husband Death*||Rs.5000 to Rs.8000||Death Certificate|
|4.||Death by Lightening||Rs.1000||Death Certificate|
|5.||Natural Disaster Support||Rs 2000||Police/VDC Report|
|6.||Accidental Treatment Support||Rs.1000 to Rs.4000||Medical Report|
|7.||Scholarship support for (Girl) *||Rs.1500 to Rs.1800||Mark sheet|
|8.||Scholarship support for (Boy) *||Rs.1200 to Rs. 1440||Mark sheet|
|9.||Family Planning Support for both||Rs. 500 Each||Medical Report|
*Amount paid in case of member/Member’s husband death, the support amount will increase Rs.300 per year.
*In case of scholarship support if the client’s children get more than 80%marks in 10+2 Level examination, Rs.1500 for girl child and Rs. 1200 for boy and after that up to master level 60% Marks is necessary for getting Rs.1800 for girl and Rs.1440 for boy.
The clients found this product as an important tool for their protection against delivery, accident, and work as safety-nets against disasters. The table below shows the present status.
|No. of Claims Met||Amount Paid (Rs.)*|
|In 2074-2075||Up to 2075||In 2074-2075||Up to 2075|
|1.||Maternity Support (for 1st & 2nd child)||1517||8648||1517000||8671900|
|3.||Member’s Husband Death*||330||1527||1877100||6791181|
|4.||Death by Lightening||0||2||0||2000|
|5.||Natural Disaster Support||161||1141||288500||2015600|
|6.||Accidental Treatment Support||6||64||14000||125500|
|8.||Family Planning Support for both||24||83||12000||44000|
Loan Security Scheme/Fund:
NESDO Nepal started this fund/scheme in 2062. We observe that after the death of the client due to accident or by any reason it is very difficult for the family member to repay the loan. As we disburse the loan on group guaranty the group member also unable to repay the loan of the deceased. The family members as well as the Groups members asked to find some solution to address this problem. We there for came up with the idea of forming a Fund Called Loan Security fund with the joint contribution of NESDO and group member. The main purpose of the creation of the fund is to support group members and their family members in case Members death. In order to get these benefits the nominee of the client has to produce death certificate and center recommendation letter. The member will contribute 1% of the disbursed loan amount and the remaining 90%is contributed by the Organization. During this FY 2074/2075 total loan waived out is Rs.3002382 of71 clients and so far the total loan waived out is Rs.14373380 of 436 clients.
- In case of member’s death the remaining installment along with the interest will fully waived out.
- The savings of the deceased will return to his/her the nominee.
Note: (The above mentioned Rs. denotes Nepali Rupees.)