The Bhutanese Leading the way.
The Royal Insurance Corporation of Bhutan Limited (RICBL) has launched two new social security policies that aim to bring greater security and peace of mind to Bhutanese families. The Deferred Annuity Scheme and the Kuenphen Tshe-sog Ngenchoel Policy are not just financial products, but commitments to safeguard citizens’ futures and strengthen Bhutan’s social safety net.
For many working Bhutanese, saving enough for retirement has always been a challenge. The Deferred Annuity Scheme offers a structured way to build savings gradually during one’s productive years, ensuring that when people reach retirement, they can depend on a steady income rather than uncertainty. This is especially important in a society where families often shoulder the responsibility of caring for parents in old age. With the new scheme, elderly citizens can look forward to greater independence and dignity, while children are relieved of some of the financial pressures that come with supporting aging parents.
Equally important is the Kuenphen Tshe-sog Ngenchoel Policy, which focuses on protecting families during the most vulnerable times. It provides financial support if a policyholder passes away unexpectedly, preventing households from being thrown into financial hardship. With flexible coverage amounts and the option to add protection against critical illness, the policy ensures that families have the resources to continue their lives, whether it is keeping children in school, covering medical expenses, or maintaining stability during periods of grief.
RICBL’s leadership emphasized that these initiatives are driven by a people-first vision. CEO Karma noted that the policies are meant to support Bhutanese citizens “during their working life, in retirement, and in times of hardship,” reflecting a broader mission of promoting stability and resilience within society. The products are structured to be accessible, with flexible payment options and tax benefits, so that more people can participate and benefit.
The Deferred Annuity Scheme and the Kuenphen Tshe-sog Ngenchoel Policy also signal a wider shift in Bhutan’s approach to social protection.
