BIL launches Lopthru Nyenchoel policy

A backup for students’ education in case of accidental disability or death of parent/guardian

Insurance: Covering accidental demise and permanent total disability (PTD) due to accident, Bhutan Insurance limited (BIL) launched the student care insurance, Lopthru Nyenchoel policy yesterday in Thimphu.

Parents or guardians up to the age of 65 can avail this policy for their children, who are studying.  Students aged 18 and above, as well as educational and vocational institutes, can also avail the policy.

The policy has been divided into two categories – school students (age 3 and above – kindergarten to class 12) and college students (university/college/vocational or professional institutions up to the age of 25.)

BIL officials said that, at a nominal premium, the policy could serve a backup for students’ education in the event of accidental mishap of their parent/guardian.

The starting premium for a school student is Nu 225 against an insured sum of Nu 50,000.  The maximum sum insured will be Nu 100,000 with a corresponding increased premium.  For a college student, the starting premium is Nu 450 for an insured sum of Nu 100,000.  The maximum sum insured will be up to Nu 200,000.

BIL’s general manager, Kalyan Humagai, said that, since the policy was affordable, it would benefit all families.

“Not only urban but rural families will be able to avail this policy,” he said. “It’ll have the parents/guardian prepare for the continuing of their children’s education at the time of mishaps.”

In the event of demise or PTD of a parent/guardian, the allowance will be paid, according to the sum insured, over a period of four years, without them having to renew the policy, which is expected to assist the student to continue their education.

The insured student is also covered for demise and PTD due to accident, with 60 percent of the sum insured.

Education ministry director general, Karma Yeshey, attended the launch of the policy.

BIL officials said the policy is launched to commemorate the 35th birth anniversary of His Majesty the King, in support of the royal vision in supporting continuing education even at times of mishaps.

By Dechen Tshomo

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