Royal Insurance Corporation of Bhutan Limited - RICB

08/08/2026

04/08/2026

We warmly welcome Thinley Namgay to the RICB family and extend our heartfelt congratulations on his appointment as the Credit Manager of the Thimphu Main Branch Office.

We look forward to his valuable contributions, expertise, and leadership in strengthening our credit management function and supporting the continued growth of the Company.

We wish him a successful journey with the Company and look forward to achieving greater milestones together.

04/08/2026

Click here to update your TPN: https://forms.cloud.microsoft/pages/responsepage.aspx?id=cPopkNhnVkCIVCabrFGII41rSGPcgexLvcl6C9mPJOpUREVISUFNTDhTT1pBRjRJUVdLN1paQ1gySy4u&route=shorturl

03/08/2026

1. What is Overseas Travel Insurance?

Overseas Travel Insurance protects you against unexpected medical expenses and certain travel-related losses while you are travelling outside Bhutan.

2. Who can buy this insurance?

Anyone travelling overseas for holidays, business, official travel, education, or other genuine travel purposes.

3. Does the policy cover travel within Bhutan?

No. This policy only covers travel outside Bhutan.

4. What travel plans are available?

Plan T1: Worldwide except the USA, Canada and Bhutan with a sum insured value of USD 50,000.

Plan T2: Worldwide including the USA and Canada, excluding Bhutan with a sum insured value of USD 100,000.

Plan T3: Asian countries only except Japan and Bhutan with a sum insured value of USD 10,000.

Example: If you are travelling to Australia, you may choose Plan T1 or Plan T2.

5. Can I choose a higher sum insured?

Yes. You may choose a higher sum insured based on your travel needs and budget.

6. What does the policy cover?

Emergency medical treatment, personal accident, loss of checked-in baggage, baggage delay, loss of passport, and personal liability

7. Does it cover pandemics?

Yes. Illnesses, including pandemics, are covered, subject to the policy terms.

8. Are pre-existing medical conditions covered?

No.

9. How long is the policy valid?

Up to 180 days per trip, extendable up to 365 days with approval. It starts when you leave Bhutan or on the policy start date (whichever is later) and ends when you return to Bhutan or on the expiry date (whichever is earlier).

10. What if my return flight is delayed?

If delayed due to public transport beyond your control, the policy may be extended for up to 7 days at no extra cost.

11. Who is eligible?

People aged 0 – 80 years. Travellers aged 81 years and above require approval and may pay a higher premium.

12. Is a medical check-up required?

Yes. Plan T1: age 60+; Plan T2: age 40+.
ECG and blood sugar/urine sugar tests are required.

13. How long are medical reports valid?

60 days before application.

14. What if I cannot complete the medical tests?

Restricted cover may be granted. Illness claims are limited to USD 5,000. Accident claims may still receive full benefits. Available only up to age 75.

15. What is not covered?

Pre-existing medical conditions, certain diseases, and other exclusions stated in the policy.

16. Can I postpone my policy?

Yes. Inform RICB before the policy starts and submit your revised travel ticket.

17. Can I cancel my policy?

Yes. If you do not travel, inform RICBL before your travel date and provide proof. A Nu 250 cancellation fee applies.

18. Will I receive a refund?

Yes, if cancellation conditions are met. Late notification may reduce or remove refund eligibility.

19. Can I extend my policy?

Yes, before it expires. You must declare that you are in good health and pay the additional premium.

20. Can I change my plan when extending?

No. The original plan cannot be changed.

21. Can I extend after expiry?

No.

22. Can I insure only part of my trip?

No. The policy must cover the entire insured journey.

23. What documents are required?

Completed proposal form, Passport/CID copy, medical reports (if required), and travel itinerary (if available).

24. How is the premium calculated?

Based on the travel plan, destination, age, travel duration, and sum insured.

25. Who can I contact?

Visit your nearest RICB Branch Office or call @1818.

01/08/2026

29/07/2026

1. What is the Deferred Annuity Scheme?

It’s a retirement plan where you pay regularly now, and after your chosen vesting age, you get a pension (regular income) for life or for a guaranteed period.

2. Who can join this scheme?

Anyone aged 18 to 60 years can join. You choose your vesting age (when pension starts) as 50, 55, 60, or 65 years.

3. How much do I need to contribute?

Minimum Nu 1,000 per month, with no upper limit. You can choose a single payment or regular payments until your vesting age.

4. What are the annuity options?

• Life Annuity: Pension continues for your lifetime.
• Life Annuity Guaranteed 10 Years: Pension is paid for at least 10 years even if you die earlier.
• Joint Life Annuity: Pension continues for your spouse after your death.
• Joint Life Guaranteed 10 Years: Pension continues for spouse with at least 10 years guaranteed; if both die, remaining guaranteed payments go to a nominee.

5. Can I include insurance coverage?

Yes, you can add life insurance for Nu 100,000 – Nu 500,000, valid until age 70. Premiums for this are extra.

6. What happens if I die before the pension starts?

Your accumulated fund is paid to your nominee or spouse.

7. What happens if I die after the pension starts?

It depends on your annuity option. Guaranteed periods protect payments for your nominee/spouse.

8. What if I become permanently disabled before vesting age?

• Option 1: Continue paying contributions and keep policy active.
• Option 2: Stop contributions and withdraw your accumulated fund without penalties.

9. Can I surrender the policy?

Yes:
• Before 2 years: get 80% of contributions.
• 2–5 years: get 90% of accumulated fund.
• After 5 years: get 95% of accumulated fund.
Surrender charges may be waived in case of disability or terminal illness.

10. Can I revive a lapsed policy?

Yes, within 5 years by paying overdue contributions plus 8% interest, provided your health is acceptable.

11. How is the pension calculated?

Pension is based on your accumulated fund at vesting and the annuity rate at that time. Rates are not fixed at the start, but once your pension starts, it is guaranteed.

12. How do I receive my pension?

You can choose monthly, quarterly, half-yearly, or annual payments.

13. Is it possible for RICB to make a mass presentation for organisations/agencies?

Yes. Our team is willing to provide any presentation for organisations/agencies. Contact us at 1818 for further information.

DEFINITIONS

Vesting age is the age at which you start receiving your pension.
An accumulated fund is the total amount of money you have paid in contributions plus any interest earned during the saving period.
Surrender value is the amount you receive if you choose to stop the policy before it ends.
A nominee is the person you choose to receive the benefits if you die.
Annuity rate is the rate used to calculate your pension, and it depends on the interest rates at the time your pension starts.
Guaranteed period is the minimum number of years your pension payments are guaranteed, even if you die.