Coop Loan Protection Plan

A term insurance that provides protection both the coop(lender) and the member(borrower).

  • 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.

To qualify for MHRMPC membership, individuals must meet specific criteria outlined by the cooperative.
  • Must be a member of the Cooperative or Financial Institutions.
  • 18-65 years old. For 66-69 years old graduated rates are applied.
  • Individuals who are mentally competent, physically capable, in good health, able to perform their usual duties, and not affected by life-threatening diseases.
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