2009 SPS report_English

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					                                        FY 2009 SOCIAL PERFORMANCE STANDARDS REPORT
This Social Performance Standards Report was created by MIX to collect information on the 22 core indicators selected by The Social Performance
Task Force. The whole document consists of 5 parts: 1. the social performance standards framework and description, 2. the social performance
standards report Part I, 3. the social performance standards report Part II, 4. the table for poverty measurement, and 5. a glossary. Part I of the
report contains 13 indicators which mainly focus on your MFI's mission, products and services offered, social responsibility to clients and to staff,
and clients outreach. Part II contains 6 indicators which focus on employment creation, social responsibility to community and to environment, and
children education. Finally, the table for poverty measurement contains the remaining 3 indicators on poverty level. The indicators follow a specific
framework that looks at the entire process by which social impact is created. The framework includes analysis of the intent of the institutions, the
effectiveness of their internal systems and activities in meeting these objectives, related outputs, and success in effecting positive changes in the
lives of clients. The MFI can provide any additional information related to each indicator in the column for comments. Finally, a glossary has been
created to link those indicators which are most difficult to conceptualize and conform to a standard definition. The indicators linked to the glossary
are underlined and their definition can be viewed by clicking on the hyperlinks provided.




                                             INTERNAL SYSTEMS
                    INTENT                                                     OUTPUTS                     OUTCOMES                      IMPACT
                                                & ACTIVITIES




             DIMENSION                                  STANDARD                                 RELEVANCE OF THE STANDARD                             COMPANION RESOURCES
               INTENT                             Mission and social goals            Social performance is the translation of an MFI's         For help in designing strategy for
                                                                                      mission into practice. What is measured in social         translating mission into practice see 1.
                                                                                      performance is related to an MFI's mission and social     MFC's Mission into Action Handbook,
                                                                                      goals. This indicator assesses the MFI's stated           which presents a Balanced Scorecard
                                                                                      commitment to its social mission, its target market       approach for MFIs on Strategy
                                                                                      and development objectives.                               Management and steps for creation of
                                                                                                                                                an action plan. 2. The paper Putting
                                                                                                                                                the ‘Social’ Into Performance
                                                                                                                                                Management is a practical guide MFIs
                                                                                                                                                to help them shape their performance
                                                                                                                                                management systems to better
                                                                                                                                                understand and respond to their
                                                                                                                                                clients’ needs. 3. The Imp-Act SP
                                                                                                                                                Practice Guide (Section 2.3) offers
                                                                                                                                                guidance on mission, goals, and
                                                                                                                                                objectives.


                                                        Governance                    Governance is a process by which a board of               For additional information on
                                                                                      directors guides an institution in fulfilling its         evaluating governance, please see 1.
                                                                                      corporate mission. This indicator assesses the way        SEEP Progress Brief on Governance
                                                                                      through which board members' responsibilities and         outlines the process of evaluating
                                                                                      terms of services are disclosed. It also assesses board   social performance governance, its key
                                                                                      composition and member's expertise and how the            elements, and case examples. 2. Paper
                                                                                      institution reinforces board members knowledge and        on Integrating SPM into Microfinance
                                                                                      commitment to social performance.                         Capacity Building: Governance
                                                                                                                                                presents governance as the starting
                                                                                                                                                point for good SPM and defines the
                                                                                                                                                role of the Board. 3. The Imp-Act SP
                                                                                                                                                Practice Guide (Section 2.4) offers
                                                                                                                                                guidance on Governance. 4. MicroSave
                                                                                                                                                offers a series of toolkits on
                                                                                                                                                Governance that cover Board
                                                                                                                                                governance, business planning, and
                                                                                                                                                strategic marketing.




INTERNAL SYSTEMS AND ACTIVITIES:              Range of products and services          Once the target population is identified, the MFI has     1. The MicroSave Product Design
      Strategies and systems                                                          to work on the design of its financial products and       Toolkit contains several component
                                                                                      services so that they can fit the needs and the           toolkits, which include the topics of
                                                                                      constraints of clients. This indicator considers the      product pricing, pilot testing, product
                                                                                      integrated approach to microfinance by assessing          roll-out, and marketing. MicroSave
                                                                                      both financial and non-financial products and             offers technical assistance in Africa and
                                                                                      services offered by an MFI.                               Asia on these toolkits to help MFIs
                                                                                                                                                design products that are a good fit for
                                                                                                                                                their clients' needs. 2. SEEPs Technical
                                                                                                                                                Note on Providing Valuable Services
                                                                                                                                                offers a framework and case examples
                                                                                                                                                for the stages of product innovation,
                                                                                                                                                design, and roll out.
      Training on social performance         Staff training on social performance management is        1. Imp-Act’s SPM Training discusses
                                             important to ensure that staff understand how their       how to integrate SPM into MFI
                                             work helps the organization achieve the social            operations. The training focuses on
                                             mission. MFIs can use training as an opportunity to       strategy, information systems, and
                                             capture staff feedback, enabling it to make changes       implementation of SPM processes.
                                             where necessary so that its management systems are        There are several different materials
                                             fully aligned with the social mission. This indicator     including the SPM Training Manual, a
                                             assesses which MFI's members have received                Workbook, Handouts with case studies
                                             training on any aspect of social performance during       and Slides. 2. MFC’s Social
                                             the reporting year and the areas of training covered.     Performance Management and
                                                                                                       Reporting Training course is 2.5-days to
                                                                                                       introduce SPM and fill in the SPS
                                                                                                       report in draft form, to be verified
                                                                                                       later by the organization.



Staff performance appraisal and incentives In order to ensure the validity of reported data and        1. Brief: Integrating SPM into
                                           staff performance on relevant areas of social               Microfinance Capacity Building: Staff
                                           performance management, it is important to carry            Incentives discusses staff incentives
                                           out staff appraisals. An MFI should also establish staff    and advocates a combination of group
                                           incentives to increase productivity and employees           and individual incentives as well as a
                                           satisfaction levels while complying with social             balance of social and financial
                                           objectives of the MFI. This indicator assesses which        indicators to evaluate performance
                                           areas of social performance an MFI appraise and the         and calculate staff incentives. 2.
                                           implementation of a staff incentive system tied to          MicroSave Toolkit on Staff Incentives
                                           social performance goals.                                   defines incentives and presents why
                                                                                                       they are important, who should be
                                                                                                       involved in their design, and how to
                                                                                                       design an incentive scheme.



        Market research on clients           An MFI can use standard market research techniques        1. Imp-Act's Practice Guide has market
                                             to identify clients' needs. Through market research       research and client centered product
                                             an MFI can refine existing products and develop new       tips (Section 3.7) 2. MFC offers several
                                             ones. This is very useful in meeting clients' needs,      papers with case studies and
                                             retaining clients, reaching new ones and reducing         suggestions on market research
                                             drop-out rates. This indicator assesses how and how       strategies. 3. MicroSave’s Market
                                             often the MFI undertakes market research on clients.      Research for Microfinance Toolkit
                                                                                                       offers tools and strategies for learning
                                                                                                       more about client’s demands and
                                                                                                       preferences in order to inform the
                                                                                                       design and provision of MFI products
                                                                                                       and services. MicroSave offers TA in
                                                                                                       Africa and Asia on this topic.



        Measuring client retention           Beyond client satisfaction, exit rates can also be an     1. MFC’s article on Client Desertion
                                             important indicator of social performance. Drop-out       examines reasons for client exit, gives
                                             rates can provide important information for an MFI if     formulas for calculating client drop out
                                             supplemented with client exit interviews, in order to     rates, and presents important factors
                                             identify problems that lead to dropouts. This             in client drop out. Two case studies
                                             indicator assesses the retention rate of an MFI.          are also available. 2. Imp-Act
                                                                                                       Consortium’s Practice Note on Client
                                                                                                       Exit defines client exit, provides
                                                                                                       formulas, and discusses how to
                                                                                                       measure exit, why it is important, and
                                                                                                       what MFI’s can learn from their exit
                                                                                                       data. Case examples are provided
                                                                                                       throughout.



           Poverty assessment                To fulfill its social mission, an MFI should use the      1. The SPTF March 2010 Newsletter
                                             poverty assessment strategy that is appropriate for       highlights tools for Poverty
                                             its clientele, development objectives, and local          Assessment. The main tools discussed
                                             operating conditions. An MFI can adopt                    include 2. The Grameen Foundation’s
                                             measurement tools to assess how and why its clients’      Progress out of Poverty Index (PPI),
                                             living conditions change over time. Recent initiatives,   and 3. USAID/IRIS Center’s Poverty
                                             such as the Progress Out of Poverty Index (PPI) and       Assessment Tool (PAT).
                                             the Poverty Assessment Tool (PAT) enable the direct
                                             measurement of household poverty using simple,
                                             robust indicators, statistically correlated with
                                             different poverty lines. This indicator assesses the
                                             tools adopted to track the poverty status of the
                                             clients. To know more about PAT visit this link:
                                             http://www.povertytools.org/
                                             To know more about PPI, visit this link:
                                             http://www.progressoutofpoverty.org/
INTERNAL SYSTEMS AND ACTIVITIES:          Social responsibility to clients      Social responsibility to clients is a fundamental         1. The Smart Campaign leads a global
     Policies and compliance                                                    dimension of an MFI's social performance. This            movement for the ethical treatment of
                                                                                indicator is linked to The Smart Campaign, which          clients in microfinance and makes
                                                                                embodies a set of core principles for the treatment       available a series of tools and
                                                                                of microfinance clients - the minimum standards that      resources to learn more about client
                                                                                clients should expect to receive when doing business      protection, evaluate an MFI's current
                                                                                with a microfinance institution. The principles at the    practices, and improve performance
                                                                                heart of Smart Microfinance are:                          on the six principles of client
                                                                                1)Avoidance of Over-Indebtedness; 2)Transparent           protection. 2. Imp-Act's SP Practice
                                                                                and Responsible Pricing; 3)Appropriate Collections        Guide offers step-by-step guidance on
                                                                                Practices; 4)Ethical Staff Behavior; 5)Mechanisms for     integrating a social lens into
                                                                                Redress of Grievances; 6)Privacy of Client Data. For      performance management, including
                                                                                more information about the Smart Campaign, you            client protection and service. 3.
                                                                                can visit: http://www.smartcampaign.org/                  MicroSave’s Customer Service Toolkit
                                                                                                                                          can help an MFI measure how clients
                                                                                                                                          are currently treated and provides a
                                                                                                                                          framework to keep operations client
                                                                                                                                          centric.



                                    Transparency on cost of services to clients Interest rates should be set to ensure the                1. MF Transparency is a global
                                                                                sustainability of the institution and long-term           initiative for fair and transparent
                                                                                availability of the service, but at the same time         pricing in microfinance. MFT offers an
                                                                                institutions should actively be looking for ways to       online calculator that allows MFIs to
                                                                                reduce the cost for their clients. This indicator         calculate the effective interest rate of
                                                                                assesses the effective interest rate for the main loan    their products with all the various
                                                                                product offered and the estimated percentage of           pricing components included. An
                                                                                clients who are borrowing from other institutions or      introductory presentation is available
                                                                                money lenders.                                            that helps explain interest rates, APRs,
                                                                                                                                          and the correlation of operating costs
                                                                                                                                          and loan size. 2. MicroSave’s Costing
                                                                                                                                          and Pricing Toolkit can be used by MFIs
                                                                                                                                          to help them understand the true costs
                                                                                                                                          of their products.



                                           Social responsibility to staff       Human resources policy is important to ensure that        1. The Imp-Act SP Practice Guide
                                                                                employees are treated fairly. At the same time, it is     (Section 3.7) discusses responsibility to
                                                                                important to monitor employee satisfaction and have       staff. 2. The Smart Campaign offers a
                                                                                a system in place to understand employees concerns        case study of good practice in how to
                                                                                and needs. This indicator assesses the MFI's policy       successfully institutionalize a Code of
                                                                                regarding social responsibility to staff, by looking at   Ethics, monitor staff satisfaction and
                                                                                its human resources policy in place, systems to           complaints, and maintain staff's esprit
                                                                                monitor employees satisfaction and staff turnover         de corps and commitment to
                                                                                rate, as a measure of staff satisfaction.                 institutional values. 3. MicroSave’s
                                                                                                                                          Human Resources Management
                                                                                                                                          Toolkit provides user-friendly systems
                                                                                                                                          and tools to help MFIs optimize their
                                                                                                                                          human resources.



                                       Social responsibility to community       An MFI can benefit the community where it operates        1. FMO has developed environmental
                                                                                not only through the provision of financial services to   and social risk management tools for
                                                                                its clients but also through the implementation of        MFIs. FMO offers a variety of resources
                                                                                policies and actions aimed to support community           including: an Office Guide, a Field
                                                                                development at large. This indicator assesses the         Guide, and a Training Guide. 2.
                                                                                steps that the MFI takes in this direction.               Linkages to NGOs and other
                                                                                                                                          community organizations can also be
                                                                                                                                          counted in this section.


                                       Social responsibility to environment     Microenterprise activities effects on the environment     1. FMO has developed environmental
                                                                                can be particular significant due to the low              and social risk management tools for
                                                                                technological level, the general lack of regulatory       MFIs. FMO offers a variety of resources
                                                                                supervision, and the absence of supporting                including: an Office Guide, a Field
                                                                                infrastructure and services in their country of           Guide, and a Training Guide. 2. The
                                                                                operations. This indicator assesses whether the MFI       SEEP Social Performance Map Chapter
                                                                                has any policies and initiatives in place to mitigate     4 discusses MF and the Environment.
                                                                                environmental impacts of financed enterprises.


   OUTPUTS AND OUTCOMES:                      Geographic outreach               The provision of financial services to different           1. USAID's PAT tool assesses poverty
 Achievement of social objectives                                               geographic areas can support income and                   outreach and can also help with
                                                                                employment generation to underserved rural and            geographic outreach. 2. Grameen
                                                                                urban clients. This indicator assesses the number of      Foundation's PPI is a country-specific
                                                                                clients reached in the different geographical areas       assessment tool for MFIs to measure
                                                                                and in the areas below the national average level of      outreach to the poor among other
                                                                                development. It also assesses the ability of the MFI to   factors.
                                                                                serve clients in those areas where no other financial
                                                                                services are provided.
          Women outreach                 If an MFI has women as its target market, then any         1. CRS-Mision's Gender Audit tool
                                         initiative in place needs to be reflected in the           offers standardized and prioritized
                                         number of women clients actually reached. This             indicators to measure internal changes
                                         indicator assesses the number of women clients             associated with gender outreach in
                                         (borrowers and savers) reached by the MFI.                 MFIs. 2. Linda Mayoux’s Gender
                                                                                                    Checklist for Microfinance offers a
                                                                                                    series of questions to evaluate
                                                                                                    progress on gender and empowerment
                                                                                                    issues as well as a few warnings. 3.
                                                                                                    IFAD paper Gender and Rural
                                                                                                    Microfinance: Reaching and
                                                                                                    Empowering Women is a Guide for
                                                                                                    practitioners about outreach to and
                                                                                                    empowerment of women and contains
                                                                                                    several decision checklists in the
                                                                                                    appendices that offer assistance
                                                                                                    planning for: organizational gender
                                                                                                    policy decisions, gender questions in
                                                                                                    product design, and assessing gender
                                                                                                    impact.



          Clients outreach               Outreach calculates the extent to which the MFI This type of data will most often come
                                         reaches clients based on type of lending from the MFI's own MIS database.
                                         methodology used, gender, ethnic minority status,
                                         and other characteristics that may be targeted by the
                                         MFI.

 Outreach by non financial services      Client outreach is not only determined by the              This type of data will most often come
                                         number of clients reached by financial products but        from the MFI's own MIS database.
                                         also by meeting the other needs of clients through
                                         other services offered to clients to help improve their
                                         lives. This indicator looks at client outreach in terms
                                         of the number of clients benefitting from non
                                         financial services, such as education, health,
                                         empowerment, etc. It also asks to show, if available,
                                         any study regarding these programs' effectiveness in
                                         helping the target market.
            Employment                   At the community level, microenterprises can               1. The Impact of Microfinance on
                                         generate new jobs, thus providing higher and more          Employment: What do we know? by
                                         stable income of the community as a whole. This            Bernd Balkenhol (ILO) provides a
                                         indicator     assesses     employment        generation    complete introduction to the concept
                                         opportunities (both self employment and non-family         and difficulties of measuring the
                                         employment) created by the supported enterprises.          impact of microfinance on job
                                                                                                    creation. The paper discusses the state
                                                                                                    of the industry’s knowledge on this
                                                                                                    topic, the key issues to consider, the
                                                                                                    results of several empirical studies,
                                                                                                    what sort of employment MFIs can
                                                                                                    promote, and what MFIs should do on
                                                                                                    this front.

         Children in School              Increased earnings derived from microenterprises This type of data will most often come
                                         allow poor people to better plan and invest in their from the MFI's own MIS database or
                                         children's future. This indicator assesses the number client interviews.
                                         of clients' children who are attending school in
                                         countries where school attendance is less than 90%
                                         at secondary or primary level.

 Poor and very poor clients at entry     In order to assess the poverty levels of the clients, an   See Poverty Assessment section.
                                         MFI should use the poverty line most appropriate.          When reporting be sure to include
                                         This indicator assesses the poverty line(s) and            relevant poverty line for country and
                                         poverty tool(s) used to estimate the percentage of         MFI's target clients.
                                         entering/recently joined clients who are below and in
                                         the bottom 50% of the poverty line.

  Clients in poverty after 3/5 years     Measuring a client's poverty status at entry and           See Poverty Assessment section.
                                         tracking this status over time is an important             When reporting be sure to include
                                         indicator that MFIs use to evaluate clients' well-         relevant poverty line for country and
                                         being. This indicator assesses the estimated               MFI's target clients.
                                         percentage of clients who joined the institution 3 or 5
                                         years ago and who remain below the poverty line.


Clients out of poverty after 3/5 years   By using appropriate poverty assessment tools and          See Poverty Assessment section.
                                         tracking the same sample of clients over time, an MFI      When reporting be sure to include
                                         can assess whether clients move out of poverty. This       relevant poverty line for country and
                                         indicator assesses the percentage of active clients        MFI's target clients.
                                         who were 'poor' when they joined the institution 3 or
                                         5 years ago and who are estimated to have moved
                                         out of poverty.
       FY 2009 SOCIAL PERFORMANCE STANDARDS REPORT- PART I
(i) BASIC DETAILS: THE MFI                                                             ANSWERS                                                                                                      COMMENTS
a      Name of the MFI:
b      Country of operations:
c      Year microfinance operations began:
d      Legal form:                                                                     Please choose one

e      Report for Fiscal Year ended (day - month - fiscal year 2009):
f      Number of loan accounts:
g      Number of currently active borrowers (not loan accounts):
h      Number of savings accounts:
i      Number of currently voluntary savers (not savings accounts):
(ii)   THE RESPONDENT
a      Name of respondent(s):
b      Title of respondent(s):
c      Office Address (Street, City and Zip Code):
d      Contact e-mail address:
e      Contact telephone number:
       INTENT
1      Mission and Social Goals
a      What is your MFI's social mission?
b      In which year was the mission statement formulated (or updated)?
c      What is the poverty level of the clients that your institution aims to reach?      Very poor clients
       (Check all that apply):
                                                                                          Poor clients

                                                                                          Low income clients

                                                                                         Not a specific focus/all population

d      If you checked the boxes " very poor or poor clients", which reference
       point/benchmark do you use for estimating the poverty level of your
       clients? (Check all that apply):
       Very poor clients:                                                                 Persons in the bottom 50% of those living below the poverty line established by the national government

                                                                                          Persons living on less than the US $1 a day international poverty line

                                                                                          Other (please specify):


       Poor clients:                                                                      Persons living below the poverty line established by the national government


                                                                                          Persons living on less than US $2 a day international poverty line


                                                                                          Other (please specify):

e      What is the target market of your institution? (Check all that apply):
                                                                                         Women

                                                                                         Adolescents and youth (below the age of 18)

                                                                                         Indigenous people and ethnic minorities

                                                                                         Clients living in rural areas

                                                                                         Clients living in urban/semi-urban areas

                                                                                         No specific target/all population

                                                                                         Other (please specify):

f      What kind of enterprises does your institution support? (Check all that           Microenterprises
       apply):                                                                           Small enterprises

                                                                                         Medium enterprises

                                                                                         Large enterprises


g      Which development objectives does your institution specifically pursue
                                                                                         Financial inclusion
       through its provision of financial and non financial products and services?
       (Check all that apply):                                                           Poverty reduction

                                                                                         Employment generation


                                                                                         Development of start-up enterprises


                                                                                         Growth of existing business


                                                                                         Adult education improvement


                                                                                         Youth opportunities


                                                                                         Children schooling

                                                                                         Health improvement


                                                                                         Gender equality and women's empowerment

                                                                                         Water and sanitation

                                                                                         Housing

                                                                                         Other (please specify):

2      Governance
a      Are Board members' responsibilities and terms of services specified by the       Please choose one
       Institution's bylaws? (Check all that apply):
b      If not, in which ways are the procedures documented?
                                                                                         Board minutes

                                                                                         Commitees minutes

                                                                                         Manual of procedures

                                                                                         Other (Please specify):

c      How is your institution's Board composed?(Check all that apply):
                                                                                         Government

                                                                                         Representatives of community leaders

                                                                                         Independent/professional firms

                                                                                         Representatives of private financial institutions

                                                                                         Clients

                                                                                         Other (Please specify):
d   What are the areas of expertise of your institution's Board                         Financial and banking
    members?(Check all that apply):
                                                                                        Legal

                                                                                        Development/non financial services

                                                                                        Government/ public services

                                                                                        Other (Please spcify):

e   What is the total number of your Board members?
f   What is the number of women on your Board?
g   If you have representatives on your Board of your target market (as
    reported in question 1e) which categories of clients are represented?

h   How does your institution reinforce Board members’ knowledge of, and
                                                                                        We have a standing social performance committee that regularly reviews social performance issues
    commitment to, social performance? (Check all that apply):
                                                                                        We organise staff and client visits to help board members understand how operations are achieving the mission

                                                                                        We ensure that social performance issues are identified as components of the MFI’s strategic and business plans

                                                                                        Other (Please specify):

    STRATEGIES AND SYSTEMS
3   Range of products and services (financial and non financial)
a   Which of the following financial products/services does your institution
    offer? (Check all that apply):
    Credit:

                                                                                        Microcredit loans for microenterprises

                                                                                        SME loans

                                                                                        Loans for agriculture

                                                                                        Line of credit

                                                                                        Loans for education

                                                                                        Housing loans

                                                                                        Credit for other household needs (ex. medical, consumption smoothening)

                                                                                        Other (Please specify):

    Savings:
                                                                                      Please choose one


    If your institution does not offer savings, please skip this question.             Checking accounts
    Otherwise, what kind of savings products does it offer? (Check all that
    apply):                                                                            Voluntary savings

                                                                                       Compulsary savings (cash collateral)

                                                                                       Fixed term deposits

                                                                                        Special purpose savings accounts

                                                                                       Other (Please specify):

    Insurance:                                                                       Please choose one


    If your institution does not offer insurance products, please skip this
                                                                                        Credit life insurance
    question. Otherwise, what type of insurance does it offer? (Check all that
    apply):                                                                             Life insurance

                                                                                        House insurance

                                                                                        Agriculture insurance

                                                                                        Health insurance

                                                                                        Workplace insurance

                                                                                        Other (please specify):

    Is the insurance voluntary or compulsory?
                                                                                     Please choose one


    Other financial services:                                                        Please choose one


    If your institution does not offer other financial services, please skip this       Debit/Credit card
    question. Otherwise, what type of services does it offer? (Check all that
                                                                                        Cell phones cards
    apply):
                                                                                        Savings facilitation service

                                                                                        Money transfer/remittances service

                                                                                        Payments by check

                                                                                        Other (please specify)

b   What are the lending methodologies of your institution? (Check all that             Individual lending
    apply):                                                                             Solidarity group lending

                                                                                        Village banking

                                                                                        Other (Please spcify):

c   Which of the following non-financial services does your institution offer to
    its clients (Check all that apply):
    Enterprise services:                                                             Please choose one




    If your institution does not offer enterprises services, please skip this           Enterprise skills development
    question. Otherwise, what type of services does it offer? (Check all that
                                                                                        Business development service
    apply):
                                                                                        Other (please specify):

    Education:
                                                                                     Please choose one


    If your institution does not offer education services, please skip this             Financial literacy
    question. Otherwise, what type of services does it offer? (Check all that
    apply):                                                                             Basic health/nutrition education

                                                                                        Children and youth education

                                                                                        Occupational safety and health in the workplace

                                                                                        Other (Please specify):

    Health services:
                                                                                     Please choose one


    If your institution does not offer health services, please skip this question.      Basic medical services
    Otherwise, what type of services does it offer? (Check all that apply):
                                                                                        Special medical services for women and children

                                                                                        Other (Please specify):

    Women empowerment:                                                               Please choose one
    If your institution does not offer services for women's empowerment,               Business training to enhance women's market opportunities
    please skip this question. Otherwise, what type of services does it offer?
                                                                                       Women leadership training
    (Check all that apply):
                                                                                       Training on rights and responsibilities as leaders in participative models

                                                                                       Women's rights education/Gender issues (training for men and women)

                                                                                       Counseling/legal services for women victims of violence

                                                                                        Other (Please specify):

4   Training of staff on social performance

a   Did any of your staff participate in training or orientation sessions related   Please choose one
    to any aspect of social performance management, during the reporting
    year?
                                                                                    If not, and not planning,
                                                                                    please explain why not:
b   If not, please skip this question. Otherwise, which staff have received some        Board members
    kind of training on social performance management during the reporting
                                                                                        Top management
    year? (Check all that apply):
                                                                                        Middle management

                                                                                       Loan officers

                                                                                       Back office staff (MIS, accounting, administration)

                                                                                       Other (Please specify):

c   On which areas related to social performance does your institution offer
    staff training?
    General principles/strategies                                                       Mission orientation

                                                                                        Social objectives

                                                                                        Gender sensitivity

                                                                                        Poverty measurement

                                                                                        Other (Please specify):

    Specific operations/procedures                                                      Over-indebtedness prevention

                                                                                        Communication with clients of product pricing, terms and conditions

                                                                                        Acceptable practices of payment collection

                                                                                        Collecting good quality social information

                                                                                        Policy and procedures on safeguard of clients' data


                                                                                        Being responsive to clients needs

                                                                                        Referring clients complaints to those responsible for handling and resolving them

                                                                                        Other (Please specify):

5   Staff performance appraisal and incentives
a   Does your institution conduct performance appraisals of staff in relation to    No, but planning in the future
    social performance management?

                                                                                    If not, and not planning,
                                                                                    please explain why not:
b   If not, please skip this question. Otherwise, which areas does your                Ability to attract new clients from target market
    institution appraise? (Check all that apply):
                                                                                       Outreach of remote rural communities

                                                                                       Women's outreach

                                                                                       Quality of interaction with clients

                                                                                       Social data quality

                                                                                       Retention/ Drop-out rates

                                                                                       Portfolio quality


                                                                                       Other (Please specify):

    Does your institution have in place a staff incentives scheme related to
                                                                                    Please choose one
    social performance goals?
                                                                                    If not, and not planning,
                                                                                    please explain why not:
d   If not, please skip this question. Otherwise, which areas does your
                                                                                        Ability to attract new clients from target market
    institution reward? (Check all that apply):
                                                                                        Outreach of remote rural communities

                                                                                        Women's outreach

                                                                                        Quality of interaction with clients

                                                                                        Social data quality

                                                                                        Retention/ Drop-out rates

                                                                                        Portfolio quality

                                                                                        Other (Please specify):

e   Which staff members qualify for these incentives? (Check all that apply):           Top management

                                                                                       Middle management

                                                                                       Loan officers

                                                                                       Back office staff (MIS, accounting, administration)

                                                                                       Other (Please specify):

6   Market research on clients

a   Does your institution use market research to identify the needs of clients
                                                                                     Please choose one
    and potential clients?
                                                                                    If not, and not planning,
                                                                                    please explain why not:
b   If not, please skip this question. Otherwise, how does your institution
                                                                                        Market research for development of new products
    identify the needs of clients and potential clients? (Check all that apply):
                                                                                        Client satisfaction assessment (interviews, surveys, focus groups, etc.)

                                                                                        Interviews with exiting clients

                                                                                        Other (Please specify):

c   How often does your institution conduct or commission market research           1Please choose one
    on clients?
7   Measuring client retention
a   Please provide the following data points to help us calculate your
    institution's exit/dropout rate
    Total number of borrowers at the beginning of the reporting period:

    Total number of borrowers at the end of the reporting period:
    Number of new borrowers during the period:
    Drop-out rate                                                                 #DIV/0!
c   How often does your institution conduct or commission exit surveys or         We are not sure why the MIX
                                                                                   Please choose one
    receive informal feedback from exiting clients?                               and MCRIl used the average
                                                                                  in the denminator.
c   If any major event, external to the institution, has occurred that may have
    affected the drop-out rate please report it here:
    POLICIES AND COMPLIANCE
8   Social Responsibility to clients
    Please read through each of the following statements and mark the ones             The loan approval process evaluates borrower repayment capacity including over indebtedness. Loan approval does not rely solely on
    that best describe your organization                                               guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.

                                                                                        Productivity targets and incentive systems reward growth only if portfolio quality is high and do not create biases in favor of lending too
                                                                                        much to one client

                                                                                        Prices, terms and conditions of all financial products are fully disclosed to the client prior to sale. This includes interest charges, insurance
                                                                                        premiums, minimum balances , all fees, penalties, linked products, 3rd party fees, and whether those can change over time.

                                                                                        All staff are trained to communicate effectively with clients, ensuring that they understand the product, the terms of the contract, their rights
                                                                                        and obligations. Communications techniques address literacy limitations (e.g., reading contracts out loud, materials in local languages).

                                                                                         The financial institution does not charge clients for its own inefficiency. Its pricing and efficiency compare favorably to its peers and
                                                                                         competitors.

                                                                                        Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection
                                                                                        manual.

                                                                                        The institution’s corporate culture and human resources systems value and reward high standards of ethical behavior.


                                                                                        A mechanism to handle client's complaints is in place, has dedicated staff resources, and is actively used.

                                                                                         Clients are told how their information will be used, and no external use is made of such data without client consent.


9   Transparency on the costs of services to clients

a   How does your institution state the interest rate?                               Declining balance method

                                                                                     Flat interest method

b   Did you provide your EIR data to MFTranparency initiative?


c   Do you know the percentage of your clients that are borrowing from other
    institutions? If yes, please provide the estimated percentage:


d   If you do not track the percentage of your clients who are borrowing from
                                                                                     Part of loans appraisal
    other institutions, skip this question. Otherwise, how do you track this
    information?                                                                     Monitored and reported through internal auditing

                                                                                     Annual sample survey conducted in-house

                                                                                     Social rating survey

                                                                                     Other (please specify):

e   Do you know the percentage of your clients that are borrowing from
    money lenders? If yes, provide the estimated percentage:
f   If you do not track the percentage of your clients who are borrowing from
                                                                                     Part of loans appraisal
    money lenders, skip this question. Otherwise, how do you track this
    information?                                                                     Monitored and reported through internal auditing

                                                                                     Annual sample survey conducted in-house

                                                                                     Social rating survey

                                                                                     Other (please specify):

10 Social Responsibility to staff
a   Which of the following are included in your human resources policy?
                                                                                     A clear salary scale based upon market salaries
    (Check all that apply):
                                                                                      Medical insurance for all staff

                                                                                     Pension contribution

                                                                                      Practices and procedures which ensure safety of the staff

                                                                                     Equal pay for men and women with equivalent skill levels

                                                                                     Staff participation in decisions that affect them

                                                                                     Anti discrimination policies

                                                                                     Anti harassment policy

                                                                                     Right to organize in a staff union

                                                                                     Other (Please specify):

b   What is the percentage of your permanent and contract staff?

c   What policies does your institution have in place to support women staff?        Equal opportunities policies for staff
    (Check all that apply):
                                                                                      Set quota for women staff

                                                                                     Worktime adapted to family constraints

                                                                                     Maternity and paternity leave policies

                                                                                     Specific policies that support women's mobility in the field

                                                                                     Other (Please specify):



d   Total number of staff
e   Total number of top managers:
f   Total number of middle managers:
g   Total number of loan officers:
h   Presence of women staff:                                                         Number of women staff                    Women top managers                Women middle managers                      Women loan officers

    Number (please fill each column with appropriate numbers for the
    reporting year):
    Percentage:                                                                   #DIV/0!                                 #DIV/0!                             #DIV/0!                                 #DIV/0!
i   Does your institution monitor employees satisfaction?                         Please choose one

                                                                                  If not, and not planning,
                                                                                  please explain why not:
j   If not, please skip this question. Otherwise, how does the institution
                                                                                     Assessments of employee expectations and/or satisfaction as part of regular staff appraisal
    monitor employee satisfaction?(Check all that apply):
                                                                                     Periodic systematic surveys of employee expectations and/or satisfaction

                                                                                     Established system to address staff grievance

                                                                                     Interview with exiting staff

                                                                                     Other (Please specify):

k   Please provide the following data points to help us calculate your
    institution's staffstaff at the end of the current reporting period:
    Total number of turnover rate:
    Total number of staff at the beginning of the reporting period:
    Number of exit staff during the reporting period
    Staff turnover rate                                                           #DIV/0!
    ACHIEVEMENT OF SOCIAL GOALS
11 Geographic outreach

     Clients coverage in each geoographic area (counted in terms of unique                Number of clients:         Clients living in urban   Clients living in semi-urban Clients living in rural areas:
a                                                                                                                             areas:                       areas:
     clients, not accounts):
     Number (please fill each column with appropriate numbers for the
     reporting year):
     Percentage:                                                                                                    #DIV/0!                    #DIV/0!                       #DIV/0!
b    Does your institution have regular service points located in areas where        Please choose one
     there are no other MFIs or bank branches?
     If yes, what is the number of service points you have in these areas?
c    What is the number of clients served in these areas?
d    What is the total number of service points that you have?
e    Percentage of service points you have in these areas:                          #DIV/0!
f    Percentage of clients served in these areas:                                   #DIV/0!
12   Women outreach
a    Number of women active borrowers:
b    Percentage of women active borrowers:                                          #DIV/0!
c    Number of women voluntary savers:
d Percentage of women voluntary savers:                                             #DIV/0!
13 Clients outreach by lending methodologies and other clients outreach (as reported in question 1e under INTENT)
a    Clients outreach by lending methodology                                         Active borrowers receiving         Active borrowers        Women active borrowers        Women active borrowers
                                                                                           individual loans           receiving group loans     receiving individual loans     receiving groups loans
     Number (please fill each column with appropriate numbers for the
     reporting year):
     Percentage:                                                                #DIV/0!                             #DIV/0!                    #DIV/0!                       #DIV/0!
b    If you can, please state the percentage of clients who have graduated from
c    group loans, during of reporting year:
     If it applies, numbertheclients who are indigenous people or ethnic
     minorities :
d    Percentage of clients who are indigenous people or ethnic minorities:          #DIV/0!
e    Number of other clients that your institution target (specify according to
     the target group):
     FY 2009 SOCIAL PERFORMANCE STANDARDS REPORT- PART II
     STRATEGIES AND SYSTEMS                                             ANSWERS                                                                                                                      COMMENTS
14   Poverty Assessment
a    For which active clients does your institution measure the            We measure the povertly level of entering/recently joined clients
     poverty level? (check all the applies)
                                                                           We measure the poverty level of clients after 3/5 years in the program


                                                                           We measure the poverty level of all clients at a certain point in time (no differentiation between new and old clients)

                                                                           We do not measure the poverty level of our clients

b    If your institution does not measure the poverty level of your
     clients skip this question. Otherwise, which methods does your
     institution use to measure their poverty levels? (Check all that
     apply):
     Poverty levels benchmarked to the national or international            Grameen Progress Out of Poverty Index (PPI)
     poverty lines:                                                         USAID Poverty Assessment Tool (PAT)

                                                                            Per Capita household expenditure

                                                                            Per Capita household income


     Poverty levels that are not benchmarked:
                                                                            Housing index

                                                                            Participatory Wealth Ranking (PWR)

                                                                           Means test

                                                                           Food security index

                                                                           Per Capita household expenditure


                                                                           Per Capita household income

                                                                           Own Proxy Poverty Index


                                                                           Other (Please specify):

c    If it applies, after what period of time (from entering) does
                                                                         Please choose one
     your institution assess the poverty level of your clients?

                                                                        If you do not track this information
                                                                        please explain why not:
d    If it applies, how often does your institution track changes in     Please choose one
     poverty levels of the clients?
     POLICIES AND COMPLIANCE
15   Social Responsibility to Community
a    Does your institution have a policy for social responsibility to
                                                                            We have a written policy
     the community? (Check all that apply):
                                                                            A written policy is under development/planned

                                                                            We have an informal policy reflected in our operations

                                                                            No we do not have

b    Which of the following are included in your social
                                                                           Avoid credit for enterprises with negative social value
     responsibility policy (written or informal) towards your
     community? (Check all that apply):                                     Promote transparency and anti-corruption

                                                                           Promote reasonable working conditions for hired employees in credit supported enterprises

                                                                           Support local communities in case of emergencies

                                                                           Support local communities for social or economic development

                                                                           Support women's leadership

                                                                           Employees who speak the local language/dialects

                                                                           Take measures to contribute to the elimination of forced or compulsory labor

                                                                           Take measures to contribute to the elimination of child labor

                                                                           Other (Please specify):

c    If you have a policy and/or any initiative in place related to
16   social Responsibility to Environment
     Social responsibility to the community (as checked above)
a    Does the MFI have an environmental policy for
                                                                           We have a formal written policy
     clients/microenterprises it finances? (Check all that apply):
                                                                           A written policy is under development/planned

                                                                           We have an informal policy reflected in our operations

                                                                           No we do not have


b    If not, you can skip this question. Otherwise, which of the
                                                                           Raise awareness of client about environmental impacts
     following are included in it? (Check all that apply):
                                                                           Train/educate the client regarding environmental improvements

                                                                           Specific clauses in the loan contract are included to mitigate specific social and environmental risks

                                                                           Identify enterprises with environmental risk

                                                                           Lend lines linked to alternative energies

                                                                           Other (Please specify):
c    If you have a policy and/or any initiative in place related to
     social responsibility to the environment for supported
     enterprises (as checked above) and want to share it , you can
     write a short summary here. (Feel free to provide web links
     to related documents and/or send related documents to
     MIX, if you want them to be published in the MIX Market
     library):
d    Does the MFI have an environmental policy for its own
                                                                            We have a formal written policy
     organization's practices that includes both headquarters and
     branches (energy, water, paper, waste) ? (Check all that               A written policy is under development/planned

     apply):                                                                We have an informal policy reflected in our operations

                                                                            No we do not have

e    If not, you can skip this question. Otherwise, which of the            Minimize use of conventional electricity
     following are included in it? (Check all that apply):
                                                                            Minimize use of conventional fuels

                                                                            Minimize use of water, recycle water

                                                                            Minimize use of paper, recycle paper

                                                                            Other (Please specify):

     ACHIEVEMENT OF SOCIAL GOALS
17   Outreach by non financial services
a    Please answer this question if you reported yes to providing                                                                                                                  Clients who received services
                                                                            Clients who received enterprise                    Clients who received        Clients who received
     non-financial services to your clients (Part I of the report,                                                                                                                       related to women
                                                                                       services                                 education services            health services
     question 3c)                                                                                                                                                                          empowerment
     Number (please fill each column with appropriate numbers
     for the reporting year):
     Percentage:                                                 #DIV/0!                                                    #DIV/0!                     #DIV/0!                    #DIV/0!
b    Did you conduct any study regarding the effectiveness on
     your target market of the financial/and or non-financial
     products and services that you provide? If yes and you want
     to share the results, you can write a short summary here.
     (Feel free to provide web links to related documents and/or
     send related documents to MIX, if you want them to be
     published in the MIX Market library):

18   Employment (Family & Hired in credit supported small
     enterprises)
                                                                                                                                                            People self-employed
                                                                                                                                                                                   Hired (non-household) workers
a    Enterprises financed and employment generation                                Enterprises financed                         Start-up enterprises    (including family members)
                                                                                                                                                                                       in financed enterprises
                                                                                                                                                           in financed enterprises

     Estimated number(please fill each column with appropriate
     numbers for the reporting year):
     Percentage of start-up enterprises:                                                                                    #DIV/0!                                                           #DIV/0!

                                                                                                                                                         Part-time self-employed
b    Full-time/part-time employment                                         Full-time self-employed workers                  Full -time hired workers                                 Part-time hired workers
                                                                                                                                                                 workers
     Estimated number (please fill each column with appropriate
     numbers for the reporting year):
     Percentage:                                                         #DIV/0!                                            #DIV/0!                               #DIV/0!                     #DIV/0!
c    Was this data gathered from a sample of clients or all
     clients? If from a sample, please provide sample details (size,
     period and sampling methodology):
19   Children in School.This question is relevant for countries where
     school attendance is less than 90% at secondary or primary level

a    Do you track whether your clients' children are attending           Please choose one
     school ?
                                                                         If not, and not planning, please explain
                                                                         why not:
b    If yes, do you collect this data separately for new clients (less
     than 1 year with your institution) and for older clients (more      Please choose one
     than 3 years with the MFI)? If separately, please provide
     data for older clients below (questions f, g)

c    School attendance of clients' daughters                              Clients'daughters who are of school               Clients' daughters who are Clients'daughters who are Clients' daughters who are in
                                                                             age (primary-secondary school)                  attending primary school attending secondary school primary-school-age and who
                                                                                                                                                                                  are not enrolled in primary
                                                                                                                                                                                           education
     Number (please fill each column with appropriate numbers
     for the reporting year):
     Percentage:                                                                                                            #DIV/0!                     #DIV/0!                   #DIV/0!
d    School attendance of clients' sons                                    Clients'sons who are of school age                  Clients' sons who are       Clients' sons who are      Clients' sons who are in
                                                                               (primary-secondary school)                    attending primary school   attending secondary school primary-school-age and who
                                                                                                                                                                                    are not enrolled in primary
                                                                                                                                                                                             education
     Number (please fill each column with appropriate numbers
     for the reporting year):
     Percentage:                                                                                                            #DIV/0!                     #DIV/0!                    #DIV/0!
e    Was this data gathered from a sample of clients or all
     clients? If from a sample, please provide sample details (size,
     period and sampling methodology)
f    Provide here data for your older clients (more than 3 years          Clients'daughters who are of school               Clients' daughters who are Clients'daughters who are Clients' daughters who are in
     with the MFI): School attendance of clients' daughters                  age (primary-secondary school)                  attending primary school attending secondary school primary-school-age and who
                                                                                                                                                                                  are not enrolled in primary
                                                                                                                                                                                           education
    Number (please fill each column with appropriate numbers
    for the reporting year):
    Percentage:                                                                                        #DIV/0!                     #DIV/0!                      #DIV/0!
g   Provide here data for your older clients (more than 3 years   Clients'sons who are of school age      Clients' sons who are       Clients' sons who are         Clients' sons who are in
    with the MFI): School attendance of clients' sons                 (primary-secondary school)        attending primary school   attending secondary school    primary-school-age and who
                                                                                                                                                                  are not enrolled in primary
                                                                                                                                                                           education
    Number (please fill each column with appropriate numbers
    for the reporting year):
    Percentage:                                                                                        #DIV/0!                     #DIV/0!                      #DIV/0!
     FY 2009 POVERTY MEASUREMENT
20   Clients below poverty line at entry
     Please answer the questions below under the relevant
     column (s) according to the poverty level(s) for which
     you have information
a    What poverty line(s) does your institution consider                                                                                                                               Other (Please specify):
                                                                 National poverty line       US $1.00 a day international poverty line     US $2.00 a day international poverty line
     when measuring the poverty levels of your
     entering/recently joined clients? (Check all that apply):

b    What percentage of all entering/recently joined clients
     are estimated to be below the poverty line, at the end
     of the reporting year?
c    Specify - in the relevant cell(s) -which poverty tool(s)
     you used to calculate this data:
d    What percentage of all entering/recently joined clients
     are estimated to be in the bottom 50% of the poverty
     line), at the end of the reporting year?
e    Specify - in the relevant cell(s) -which poverty tool(s)
     you used to calculate this data:
f    Was this data gathered from a sample or all clients? If
     from a sample, provide details on the size, period and
     sampling methodology:
21   Clients below poverty line after 3 or 5 years (Complete      National Poverty Line   1 US$ per day international poverty line       2 US$ per day international poverty                    Other
     either for 3 or for 5 years or for both if both seem                                                                                                line
     relevant for your institution)
a    Of your clients who have been with your institution for
     3 years, what percentage is estimated to be below the
     poverty line?
b    Of your clients who have been with your institution for
     5 years, what percentage is estimated to be below the
     poverty line?
c    Specify - in the relevant cell(s) -which poverty tool(s)
     you used to calculate this data:
d    Provide details on the size, period and sampling
     methodology:
22   Clients out of poverty after 3 or 5 years (Complete          National Poverty Line   1 US$ per day international poverty line       2 US$ per day international poverty                    Other
     either for 3 or for 5 years or for both if both seem                                                                                                line
     relevant for your institution)
a    Of your clients who have been with your institution for
     3 years, what percentage is estimated to be above the
     poverty line now? (Provide data in the cells related to
     the poverty line(s) that you used):

b    What percentage of these clients (now above the
     poverty line) were below the poverty line when they
     joined the institution?
c    Of your clients who have been with your institution for
     5 years, what percentage is estimated to be above the
     poverty line? (Provide data in the cells related to the
     poverty line(s) that you used):
d    What percentage of these clients (now above the
     poverty line) were below the poverty line when they
     joined the institution?
e    Provide details on the size, period and sampling
     methodology:
GLOSSARY

Indicator               Definition
Active borrowers        The number of individuals who currently have an outstanding loan balance with the MFI or are primarily responsible for
                        repaying any portion of the Gross Loan Portfolio. Individuals who have multiple loans with an MFI should be counted as a
                        single borrower.

Education               1. Financial literacy: training which addresses topics related to financial planning, savings, investments, borrowings,
                        budgets, interest rates, etc..2. Basic health/nutrition education: teaching sessions on topics such as breastfeeding, child
                        health and nutrition, family planning, reproductive health, etc. 3. Children and youth education: educational programs and
                        strategies geared toward children and youth 4. Occupational safety and health in the workspace education: training that
                        aims to inform local entrepreneurs about how to ensure safer and healthy working conditions.


Credit                  1.Microcredit loans for microenterprises: loans whose purpose is to finance a microenterprise (5 or fewer employees)
                        2.SME loans: loans whose purpose is to finance small or medium enterprises (greater than 5 employees and less than 250)
                        3.Loans for agriculture: loans destined to activities linked to agriculture/livestock. 4.Line of credit: a pre-established loan
                        authorization with a specified borrowing limit extended by a lending institution to an individual or business based on
                        creditworthiness. 5. Consumer loans for education: loans destined to finance the education of any household member
                        6.Housing loans: loans that finance home purchase or improvements 7. Consumer loans for immediate household needs:
                        loans mainly destined to finance consumption and other household needs.

Clients drop-out rate   Percentage of clients who had no transaction on credit with the MFI for over 12 months, calculated as: (Total number of
                        borrowers at the beginning of the reporting period+Number of new borrowers during the period-Total number of
                        borrowers at the end of the reporting period)/Total number of borrowers at the beginning of the reporting period. This
                        formula does not differentiate between new and rejoining clients.
Enterprise services     1. Enterprise skills development: includes vocational training, technical and management skills courses to develop small-
                        scale enterprises 2.Business development services: includes information, training, business advice, consulting and
                        marketing services, assistance with information and communications technology (ICT), technical assistance, and business
                        links.
Enterprises             1.Microenterprises: enterprise having 5 or fewer employees. 2.Small enterprises: enterprise greater than 5 employees and
                        less than 50. 3.Medium enterprises: enterprises greater than 50 employees and less than 250. 4.Large enterprises:
                        enterprises greater than 250 employees. These numbers include both self-employed (client and family members) and non-
                        family hired employees.
Financial services      1.Debit card: a bankcard used to make an electronic withdrawal from funds on deposit in a bank, as in purchasing goods or
                        obtaining cash advances/Credit card: a bankcard that may be used repeatedly to borrow money or buy products and
                        services on credit. 2. Cell phones cards: a card used to directly lend out money through mobile phones and that allows
                        clients to store cash and repay their loans. 3.Savings facilitation services: the MFI enables its clients to have savings in
                        other institutions. 4.Money transfer services: Money sent by expatriate migrant worker to their home country or other
                        payments in cash, check or electronic transfer, also made domestically. 5.Payment by check: bill of exchange, or draft on a
                        bank drawn against deposited funds to pay a specified sum of money.

Full-time workers       Those working more than 6 hours a day, for more than 8 months a year.
Health services         1.Basic medical services: basic nursing, basic medical support and vaccination services. 2.Special medical services for
                        women and children: services such as PAP smears to breast exams, STD screenings, pre- and post- natal care for pregnant
                        women.
Insurance               1.Credit life insurance: insurance issued to cover the life of a borrower for an outstanding loan. If the debtor dies prior to
                        repayment of the debt, the policy will pay off the balance of the amount outstanding. 2.Life insurance: insurance that
                        guarantees a specific sum of money to a designated beneficiary upon the death of the insured or to the insured if he or she
                        lives beyond a certain age. 3.House insurance: property insurance that covers losses occurring to one's home, its contents,
                        loss of its use, or loss of other personal possessions of the homeowner. 4.Agriculture insurance: coverage for crops in the
                        event of loss or damage and coverage for domestic animals loss raised for home use or for profit, especially on a farm; 5.
                        Health insurance: insurance against loss or bodily injury; 6. Workplace insurance: insurance that covers medical costs and
                        lost wages for employees injured at work




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