Insurance in laymen's term is a fund raised with accumulation of money by way of premium from many fortunate to assist and help recover the few less fortunate financially, who incur loss.
The basic concept behind is to bring back the individual in the same financial position, as he was just prior to the loss only and nothing further.
Insurance as many Bhutanese think and take, is not an investment where one is expected to always get back his money but its rather a practical tool to reduce your financial vulnerability to the loss causing risks NOR is Insurance a social institution to help and care the people in financial distress.
The Royal Insurance Corporation of Bhutan Limited (RICBL) has launched a new insurance scheme for people traveling for pilgrimage.Read more in BBS ->
The government has revised the existing Rural Life Insurance Scheme (RLIS) to Nu 30,000 from Nu 15,000..Read more in Kuenselonline ->