Bhutan Insurance Limited introduces Gyalsup Plan for Gyalsups
The Gyalsup Plan, a specialized term insurance policy, is aimed at protecting the well-being of Gyalsung cadets during their training. The product was created to align with the training aspect of the program.
Head of marketing and research department at Bhutan Insurance Limited (BIL), Tobgay, said, “This initiative is a vital addition to the comprehensive welfare measures in place for the cadets allowing them to fully concentrate on their development and training, reinforcing the commitment to the Royal Vision of fostering a resilient and prosperous nation.”
The product was developed inhouse by the marketing and research department of the BIL with consultative meeting with Gyalsung Office. The product was launched on August 28, 2024 with coverage effective from August 29, 2024 till August 28, 2025.
According to Tobgay, the policy has to be renewed yearly as the Gyalsup Plan and the insurance policy is specifically developed for the Gyalsung Cadets only.
Retrieving on the products of the Gyalsup plan, the policy will cover for all the cadets undergoing Gyalsung Training Program across the training centers in Bhutan, with sum insurance coverage of Nu 150,000 individually with premium of Nu 321 per annum per cadets.
According to the marketing head, the insurance premiums are arranged by the Gyalsung Headquarter. “Gyalsung Office will facilitate the remittance of premiums to BIL and assist in communication between the cadets and BIL regarding insurance related queries,” said Tobgay.
In addition, Tobgay said that Bhutan insurance shall provide detailed insurance policy documents outlining coverage specifics, terms, and conditions. “BIL will process claims efficiently and provide support and guidance in line with the terms of the policy,” said Tobgay.
Meanwhile, the insurance coverage is aligned with the training aspect of the program. The insurance plan offers more than just standard coverage; it provides assurance and protection for Gyalsups, covering accidental or natural death, funeral costs, and disabilities, according to the head of marketing and research department of the BIL.
According to the Gyalsung headquarter, the Gyalsung is envisioned as an integrated training program mandatory for all youths attaining the age of 18.
For instance, the training will include three months of basic military training followed by national education, life skills and specialized training in various fields ranging from home construction technologies, computing and entrepreneurship to focused development of skills in agriculture, amongst others.
The objective of the Gyalsung is to provide direction and encourage the youth to be strong, independent thinkers, capable of serving the country. It will bring the youth of Bhutan together in a shared experience and act as a rite of passage- irrespective of their economic or regional backgrounds.
The program seeks to endow every young Bhutanese with the personal attributes, discipline and professional skills and capabilities needed to succeed in the 21st century and thereby contribute to nation-building.
By Sherab Dorji, Thimphu
