Bula Life

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Bula Life Provides:

  • Protection and income replacement for surviving family members.
  • Protection and income replacement for your business on the untimely death of your insured key partner or directors or managers.
  • Mortgage protection security against loans from financial institutions.

Benefits provided are:

  1. Death Benefit Pays out the full sum insured and accrued bonuses on the untimely death of the life insured.
  2. Premiums cease at age 85.
  3. Full sum insured and accrued bonuses are paid out should the life insured survive to age 100.

Terminal Illness Benefit

A Free inbuilt benefit with no extra cost to you.

  1. Pays out 50% of the sum insured and bonuses when the life insured is declared to be terminally ill and has less than 6 months to survive.
  2. Premium payment and all attachable benefits will cease as a result.
  3. The remaining 50% sum insured and bonuses are paid out on the death of the life insured.

Attachable Benefits

Increase the value of your life cover at minimal premium levels! Select one or more or all of the following attachable benefits:

  • Accidental Death Benefit: This benefit provides an additional sum insured to your Bula Life plan and is paid out if the life insured dies in an accident.
  • Total and Permanent Disability: Provides for an advance payment of the sum insured and bonuses if the life insured becomes "totally and permanently disabled" and is unable to work ever again as a result.
  • Waiver Premium for Death and Disability: Future premiums payable on Bula Life will be waived on the waiver life's death or total and permanent disability.
  • Term Life: Additional cover payable on the death of the life insured. The cover can also be converted to any other permanent plan.
  • Critical Illness: Depending on the choice of premium payment option (Stepped or Level) taken, the amount payable will be the advance payment of the calculated sum insured and bonuses for the base product in the event that the life insured is diagnosed to be suffering from a defined Critical Illness. 

Additional Benefits

More benefits provided by your Bula Life policy:

  • World-Wide Cover.
  • Earns compounded Bonuses.
  •  War Zone cover for Fiji Disciplines Forces on internationally sanctioned peacekeeping missions.  We guarantee the payment of the Bula Life sum insured; Term Life and/or Accident Death Benefit if attached to your Bula Life cover.  We will also recognise Total and Permanent Disability incurred whilst serving on internationally sanctioned peacekeeping missions.
  • Free Immediate Interim Accident Cover with an amount equal to your Bula Life sum insured but limited to $50,000 on the receipt of your completed signed application form. Cover ceases on the expiry of 60 days or on the issue of your policy whichever comes first.
  • Cash Value: Bula Life accumulates a cash value once your policy is in force for 2 years and 2 years premiums are fully paid. There are options to utilise this cash value if your needs change over time.
  • Loan Value: Once your policy is in force for 2 years and 2 years premiums are fully paid, you may take a loan on your policy at an interest rate applicable at that time and the loan value is $200 or more.

How to apply

Click here to download a Life Insurance Application form or call 132 700 and contact your BSP Life Agent. Alternatively, you can also click here to contact or visit your nearest BSP Life Sales Office.

Download Bula Life Brochure

NOTE: Information in this web page is not legally binding. All details however are outlined in the Insurance Policy Document.

*Terms and conditions apply