- On untimely loss, guaranteed payment of 100% of the base sum insured plus declared bonuses. If total premiums less prior cash payouts are higher than the sum insured, total premiums less the prior payouts plus declared bonuses will be paid.
- The security of world wide protection covers you 24 hours a day anywhere in the world.
- Policy debts (if any) will be deducted from all payments made.
These benefits are included in your policy:
50% of the sum insured plus declared bonuses if the life insured is diagnosed to be terminally ill and has less than 6 months to live. The remaining 50% of the sum insured and declared bonuses is payable on the death of the life insured.
Immediate Interim Accidental Cover
As soon as your completed life insurance application is provided to your sales advisor, an accidental death cover of $50,000 or the sum insured of your base cover (whichever is lesser), will apply. This benefit will cease after 60 days from the date of your application or the date that the application is accepted, declined, withdrawn or cancelled, whichever is earlier.
Bula Elite accumulates a 'Cash Value' if your policy remains in force for 3 consecutive years and 3 years premiums are fully paid.
Rider Benefits - Optional
Enhance the value of your cover with one or more of the following rider benefits:
This benefit provides cover that is payable on the death of the life insured. This payment is in addition to the base sum insured. This benefit can be taken up by the first and/or second life insured.
Accidental Death Benefit
An additional sum insured payable in the event the life insured dies through accidental means. This cover can be taken up by the first and/or second life insured.
Total and Permanent Disability
This benefit provides cover in the event of total and permanent disablement of the first life insured through accident or illness whereby the insured is unable to work again.
Waiver Premium for Disability
Future premiums will be waived if the waiver life* is totally and permanently disabled. This benefit cannot be taken if there is a second life insured.
Waiver Premium for Death and Disability
Future premiums will be waived if the waiver life* dies or is totally and permanently disabled. This benefit cannot be taken if there is a second life insured.
This benefit provides cover for certain defined illnesses and conditions that are likely to have a serious effect on the first life insured's lifestyle.
* Waiver Life refers to person that has taken a Waiver Cover on their life.
- Premiums are based on your age, the selected policy term and the results of the underwriting assessment.
- Premiums for the base Bula Elite cover are fixed and only paid over the first 10 years, regardless of the Policy Term.
- Premiums for Rider Benefits will be payable over the selected benefit term. Certain Rider Benefits have the option of level or stepped premiums.
- For level premium, the premiums payable for the Rider Benefit will remain the same during the benefit term. The sum insured for the Rider Benefit on level premiums will reduce on each policy anniversary.
- For stepped premium, the premiums payable for the Rider Benefit are subject to increase at each policy anniversary. The sum insured for the Rider Benefit will remain the same throughout the benefit term.
Your premiums can be paid through the following channels:
- Online payment via internet banking
- Mobile payment via BSP's SMS Banking, Digicel and Vodafone
- Standing Instructions via bank transfers
- Direct payment at our Customer Service Centres
- Salary deductions from source from an established group scheme.
You can use the following modes when making premium payments:
How can I apply?
- Annual, semi-annual, quarterly
The steps to apply are very simple and easy to follow:
- Complete an application form with a licensed sales advisor. Disclosure of any material facts relating to health issues is very important.
- If your age next birthday is between 41 to 45 and your sum insured is greater than $200,000, a medical examination and some tests will be required.
- If your age next birthday is between 46 to 50 and your sum insured is greater than $180,000, a medical examination and some tests will be required.
- If you are 50 years and over, a medical examination will be required.
- For personal insurance cover a copy of a valid identification card or passport is required together with proof of your current residential address, occupation, and source of income.
- BSP Life will then consider your proposal and advise whether cover will be provided.
Click here to download
the Life Insurance Application form or call 132 700 to contact your BSP Life Agent. Alternatively, you can also click here to contact or visit your nearest BSP Life Sales Office.
Bula Elite Brochure
Information in this web page is not legally binding. All details however are outlined in the Insurance Policy Document.
*Terms and conditions apply