Since launching in October 2018, BSP Life has sold over 1400 Bula Delite policies with the total sum insured of all policies over $29 Million. Over 70% of the policies were taken by first time life insurance customers with 43% between the ages of 20 and 30.
The Managing Director of BSP Life, Mr Michael Nacola, said, "We are delighted with the early success of Bula Delite and how it is assisting many Fijians obtain life insurance for the first time. The product was designed after careful market research. We noted the need for a product which provides quick and regular returns, good value at policy maturity, and protection for beneficiaries of the life insured in the event of untimely loss, at an affordable premium. Bula Delite ticks all of these boxes."
Mr Nacola added, "BSP Life strongly advocates developing a savings culture in Fiji, particularly amongst our young people, and it is pleasing to see the highest take-up of Bula Delite by customers between the ages of 20 and 30."
"It is important that our young people practise prudent financial management early, particularly in an environment where credit can be obtained relatively easily. Planning forward, investing today to fulfil future life plans and mitigating future risks is critical. It requires commitment and discipline to save every pay-day, and this persistence will pay off in the long-run."
Mr Nacola advised, "We encourage anyone who wants a life insurance plan to talk to any one of our 150 professional BSP Life Insurance Advisors, or to visit your nearest BSP Life office. Alternatively, customers can visit the BSP Life website on www.bsplife.com or simply call 132 700."