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 government has revised the existing Rural Life Insurance Scheme (RLIS) to Nu 30,000 from Nu 15,000 with effect from July 1.Read more in Kuenselonline ->
By the end of this year, a crop insurance scheme is to be implemented in the agriculture sector in Bhutan. It will provide a hitherto absent safety net to the policy subscribers, among 70 percent of the country’s population, that are dependent on agriculture.Read more in The Bhutanese ->