Life Insurance

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Coop Loan Prote​​ction Plan (CLPP) 

  A group term insurance that covers the loan obligation of the member/borrower of the cooperative/financial institution.

Benefits for the cooperative

Minimize loan payment delinquency  due to member’s death.

Benefits for the member

Upon the death of borrower, his/her insured loan will be paid by CLIMBS; thus, reducing the beneficiary/ies’ financial burden.

Benefits Coverage
Natural Death Loan Face Amount
Benefits (RIDER) Coverage (RIDER)
Accidental Death Double the Loan Face Amount
Accidental Dismemberment Various, per Schedule
Total & Permanent disability due to accident     LPP face amount


  • Loan Insurance Coverage for the Member-borrower of a Cooperative or Financial Institution.
  • Premium is computed per thousand per month bases.
  • Protection is usually co-terminus with the term of the loan.
  • Maximum term of Thirty-six (36) months.


  • The effectivity of the Loan Protection shall commence on the date the loan is release.


  • Must be a member of the Cooperative or Financial Institution
  • 18-65 years old.
  • For 66-69 years old, graduated rates are applied.
  • In good health, mentally competent and physically able.