Money Back Policy

Planning a vacation or pilgrimage in a few years? Our Money Back Policy (MBP) can make that trip possible. The Survival Benefits from the MBP enablesyou to save enough for vacations, trips, and to meet unexpected financial needs without feeling taxing or digging deep into your pockets.

Remember, it also provides free insurance for three, five, and seven years depending on the policy you choose.

BENEFITS

Protection

Tax Rebate

Survival Benefit

SA + bonus + return of premiums upon death

Eligibility

Anyone with income
Entry Age: 18 – 55 years
Sum Assured: Nu 30,000 – 1,000,000
Term: 15 Years (Premium Payable 12 Years). For 20 years (Premium Payable 15 years). For 25 Years (Premium Payable 18 Years).
Loan: Ineligible
Surrender: After 3 years from the payment of the premium
Paid Up: Premiums payment at least for 3 years

Benefits

Monetary returns for 15 Year Term – 30% of the Sum Assured on the 4th & 8th year. 40% of the Sum Assured on the 12th Year. Three years of free insurance coverage. Plus bonus on the 15th year.
Monetary returns for 20 Year Term – 25% of the Sum Assured on the 4th, 8th, 12th & 15th year. Five years of free insurance coverage. Plus bonus on the 20th year.
Monetary returns for 25 Year Term – 20% of the Sum Assured on the 4th, 8th, 12th, 15th, & 18th Year. Free insurance for seven years plus bonus on the 25th year.
Sum Assured + Bonus + return of premiums in the event of untimely demise of the policyholder.
Double the SA + bonus + return of all premium in the event of demise due to accident if Accident Benefit is availed.
50% Tax Rebate

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
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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