There’s a common misconception that life insurance only provides a payout after death. While many Fijians take up a life insurance policy to safeguard their loved one’s future in case of an untimely passing, the good news is that BSP Life insurance policies also deliver valuable benefits during a policyholder’s lifetime.
Last year alone, BSP Life paid $112 million in customer benefits. Of this, a remarkable $80 million was paid out in Living Benefits — helping customers fulfil their life plans.
What are Living Benefits?
Living Benefits are payouts customers receive while they are alive — through policy maturities payouts (the final lump sum when the policy reaches its end date), and periodic cash payouts for certain life insurance products such as Bula Delite & Bula Elite.
Why do Living Benefits matter?
These benefits are designed to help BSP Life customers meet financial goals during their lifetime such as;
- Education: Families using maturity payouts to fund their children’s university fees, or their own.
- Home ownership: Payouts helping with deposits, renovations or clearing mortgages.
- Retirement security: Enjoying financial independence as they receive maturity payouts.
- Business growth: Entrepreneurs starting their own businesses or reinvesting their payouts into their ventures.
Why it Matters
Our payout for Living Benefits means most of our customers are directly experiencing the value of their policies. They reap the rewards of their wise decisions to invest in a life insurance policy.
Meet Tuisalia Kolikeirasea
Tuisalia Kolikeirasea bought two life insurance policies from BSP Life when he first started working. The Living Benefits he received from his life insurance policies helped him support his younger sister’s education. Over the last five years, BSP Life has paid $451 million in total benefits. Interested in getting a life insurance policy? Call 132 700 or visit www.bsplife.com.fj
Disclaimer: This article provides general information only. For advice specific to your situation, please consult a licensed BSP Life advisor. Coverage is subject to product terms, conditions, and eligibility criteria.
