Sports insurance launched to cover athletes’ accidental risks and injuries

The Bhutan Insurance Limited in collaboration with the Bhutan Olympic Committee launched Sports Insurance today. The insurance is specially designed for athletes to cover their accidental risks and injuries. A Memorandum of Understanding was signed to implement the insurance schemes starting today. The insurance will cover medical expenses during injuries and provide financial support in case of disability or loss of life. The schemes will cover all types of sports. The launch coincided with the 40th birthday of His Royal Highness Prince Jigyel Ugyen Wangchuck.

The sports insurance will cover Bhutanese athletes playing in professional, domestic and national leagues, international players playing in professional leagues in the country or playing for regulated Bhutanese clubs, and national players representing the country at both national and international levels.

The insurance will cover the costs of emergency medical treatment and hospitalisation for sports-related injuries. It will also provide financial benefits in the event of death or disability due to injuries, covering athletes participating in sporting events worldwide.

“When you play sports, there are a lot of exposed uncertainties where you face injuries and at times even death so we thought there is a very much need of sports insurance, as the sports federations are growing, the number of athletes are growing, the participation in the regional as the international level is picking up. So, given this, we have decided to design a very suitable policy, sports policy for the athletes of Bhutan. Anybody, participating in sports playing whether it is at a national or international level will be covered under the scheme,” said Damdi Dorji, CEO of Bhutan Insurance Limited.

The insurance offers two types of plans: Enhanced and Standard. Under the Enhanced Plan, the personal accident benefits are up to USD 10,000 which is equivalent to Nu 800,000, and medical expenses up to USD 2,500 with an annual premium of Nu 4,832 per person.

The Standard Plan offers personal accident benefits up to USD 7,500 and medical expenses up to USD 2,500 with an annual premium of Nu 4,112 per person.

Likewise, there are two premium options for three months and six months, calculated at 80 and 90 per cent for the enhanced and standard plans.

The athletes welcomed the initiative.

“Footballers or be any athletes in the sports, they are prone to injuries, serious injuries like ACL, which is one of the major injuries, so we don’t have the medical facilities here to do surgery and everything and when we go outside it is very expensive. So, I think that the expenses will be greatly covered and it will be less financial burden for the sports organisation,” said Phuntsho Wangdi, director of the Bhutan Football Federation.

“I have been participating in BAAF for about four years now and I have never had an opportunity like this before. With the BIL launching sports insurance, I feel more encouraged to take part in sports. It reassures me because no matter what I participate in, I will always have this insurance to rely on,” said Dechen Ugyen, an athlete of the Bhutan Amateur Athletics Federation.

The Bhutan Olympic Committee will be responsible for arranging premium payments to Bhutan Insurance Limited. Additionally, the BOC will assist in providing the necessary documentation and information to support claims as required.

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