Enrico Leonoras's Story

Protecting family assets after a tragic loss

Enrico Leonoras, a native of Zarraga, Iloilo in the Philippines, worked as a construction worker but dreamt of starting his own business. In June 2005, he received a loan from microfinance institution TSKI to do just that. As a member of the group loan program, his family was covered by micro insurance. Enrico paid the equivalent of $5.00 as a premium for the benefit.

After a couple of weeks of joining the program his wife fell sick with pneumonia and suddenly died leaving him the sole guardian of their only child, Ellias, who is ten months old and still in need of maternal care. With the insurance payout of $890.00, Enrico was able to provide a noble burial for his wife and has paid off their debts to his neighbours. The remaining amount ($270 equivalent) he deposited in the Rural Bank of Dumangas in preparation for his son's schooling. While the micro insurance benefit does not alleviate Enrico's tragedy, he is grateful that it has lessened his family's financial burdens.