Bangladeshi borrowers always worry what will happen to their debt if they die. Will their family members pay it? They believe that if their debt remains unpaid after their death, their soul cannot rest in peace. Inclusion of a loan insurance program in GGS has made them very happy. The insurance program is extremely simple. On the last day of every year, the borrower is required to put a small amount of money in a loan insurance savings account. It is calculated on the basis of the outstanding loan and interest of the borrower on that day. She deposits 2.5 percent of the outstanding amount. If
...more
