RICB has launched “Children’s Money Back Policy”
The Royal Insurance Corporation of Bhutan Limited launched a new life insurance policy titled “Children’s Money Back Policy” to commemorate the 60th Birth Anniversary of His Majesty the Fourth Druk Gyalpo on the 107th National Day.
This new Life Insurance policy was designed taking into consideration the rising cost of educational expenses burdening the parents today. It is also simultaneously a LifeRisk- Coverage for the parents and the child/ children. This policy promises a guaranteed addition of Nu. 60 per a thousand sum assured upon the maturity of the policy.
The policy has been designed particularly with the following objectives is to provide life insurance to the parents and the child under one policy and to ensure financial stability for children’s education in times of untimely demise of the parents
As this policy re- mits survival benefits every four or five years, depending upon the terms of the policy, the amount received is aimed to provide for the expenses for children’s education. This policy allows premium to be paid in all various modes including a single lump sum payment.
The Royal Insurance Corporation of Bhutan Limited ( RICB) was incorporated on 7th January 1975 under the Royal Charter of His Majesty, the Fourth Druk Gyalpo Jigme Singye Wangchuck, primarily to meet the insurance needs of its Citizens as well as to actively participate in the economic development of the nation. It has grown from strength to strength over the years in keeping with our nation’s march towards the goal of economic growth, self- reliance and Gross National Happiness.
Today, the RICB has 27 offices across the country with the Head Office located in Thimphu and a Regional Office at Phuentsholing.
As an insurance provider, the RICB plays a significant role in the financial sector and in socio- economic development of the country. The RICB provides multifaceted financial services including social security services to the society through its various schemes/ products.