Gaki Pelzom Life Policy

If you want to save as well as make a lifetime investment, there is no better deal than our Gaki Pelzom Life Policy. Commonly known as GPLP, this policy gives you TWO Insurance Plans for the price of one. GPLP combines Endowment Life and Whole Life into one Life Policy.

What this basically means is that GPLP guarantees a Survival Benefit, which is the Sum Assured plus the Bonus, with lifetime insurance coverage for the policyholder until the age of 97.

In other words, your nominees will still be entitled to the full Sum Assured of Nu 50,000 or Nu 100,000, depending on the Sum Assured, even after the receipt of your Survival Benefit earlier.

BENEFITS

Protection

Tax Rebate

Disability Benefit

Survival Benefit

SA plus bonus upon death during the term

Premium waiver in the event of disability

Eligibility

Anyone with income
Entry Age: 18 – 55 years
Sum Assured: Nu 50,000 – 500,000
Term: 5 – 52 years
Loan: Eligible after 3 years
Surrender: After 3 years from the payment of the premium

Benefits

Survival Benefit – Sum Assured plus Bonus
Sum Assured plus bonus in the event of policyholder’s untimely demise during the term
Sum Assured guaranteed in the event of policyholder’s untimely demise after the term
Accident Benefits available with the payment of an additional premium
Disability Benefit
Premium Waiver in the event of policyholder’s disability
50% Tax Waiver

Claim Checklists

Survival Benefit

To process the Claims online, fill out Customer Updation Form (available @www.ricb.bt). Mail the duly filled up form to contactus@ricb.bt. The claims will be directly deposited to an individual Bank Account
Original Policy Document or a duly issued duplicate document
Copy of Citizenship Identity Card
Revenue stamp
Discharge voucher has to be signed & witnessed

Maturity Benefit

Original Policy Document / policy closure form
Copy of Citizenship Identity Card
Revenue stamp
Discharge voucher has to be signed & witnessed

Death Claim

Intimation Letter
Claimant’s Statement duly signed by the nominee along with a witness
Certificate by Employer if the deceased was employed
Proof of Death (Death Certificate, a Letter from Ministry of Home & Cultural Affairs, Police or Gup in case of death outside hospital premises)
Copy of Citizenship Identity Card of both the deceased and the nominee
Original Policy Document
Investigation Report in case of very early death claim
In case of accidental death, police report
Discharge voucher has to be signed & witnessed

Surrender

Surrender Form (available @www.ricb.bt)
CID Copy
Original Policy Document / policy closure form
Revenue stamp
Discharge voucher has to be signed & witnessed

Revival

Ordinary Revival Form (available @www.ricb.bt) only if the policy has lapsed for more than 6 months and less than one year.
Health Declaration Form (available @www.ricb.bt) if the policy has lapsed for more than one year

Apply Online

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