The Royal Insurance Corporation of Bhutan Limited signed a Memorandum of Understanding (MoU) with Druk Green Power Corporation Limited on 12/05/2014 to insure all employees under the Ten-tsai Mangul Ngenchoel – II, a new life insurance scheme designed particularly for groups, institutions and companies. This was initiated by DGPC Limited as an employee welfare scheme covering whole employees of the organization.
Ten-tsai Mangul Ngenchoel – II is a non-participating Guaranteed Endowment Assurance Policy designed with an objective to provide an avenue for investment by way of guaranteed additions coupled with life insurance benefit.
The policy covers individuals from the age of minimum 1 year to a maximum of 80 years and offers a sum assured of Nu. 10,000/- minimum to a maximum of no limit.
The benefits of the policy are:
1.Maturity Benefit: Sum Assured + Guaranteed Addition for no. of years
2.Death benefit: Sum Assured + Return of 75% of the premium paid
The mode of payment for this policy is yearly/single and like any other life insurance policy suicide case is not covered throughout the policyterm.
For RICB the above initiative marks yet another milestone in providing social security to the citizens of the country.
Today RICB has 27 offices across the country with the head office at Thimphu and the regional office at Phuentsholing. As an insurance provider, RICB plays a significant role in the financial sector and in socio-economic development of the country. RICB provides multifaceted financial services including social security services to the society through its various schemes/products.
Contact:
Royal Insurance Corporation of Bhutan Limited
Toll Free No.: – 181 & 151
Email: – cspd_all@ricb.com.bt