A sum of Nu 30,000 will now be paid as part of the Rural Life Insurance payout at the death of a person.
A memorandum of understanding was signed, today, between the Finance Ministry, Home and Cultural Affairs Ministry, and the Royal Insurance Corporation of Bhutan Limited (RICBL). The revised scheme came into effect last month. Until June, this year, only Nu 15,000 was paid as part of the scheme.
The Rural Life Insurance Scheme was first initiated in 1982.
