RICB has launched “Chil­dren’s Money Back Pol­icy”

Bhutan Times - - Home - An­jana Subba

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.

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