Bula Smart is Tailored for You

Bula Smart, a hassle free, no underwriting product is specifically designed to meet the needs of customers with medical conditions or who simply do not have the opportunity to obtain medical reports as part of their insurance application requirements. With Bula Smart, everyone can have the benefits of life insurance!

Speak with a life insurance advisor and find out how Bula Smart can support your needs.

Features & Benefits of Bula Smart

The Bula Smart Plan is a unique insurance product and here are some features and benefits.

Maturity Benefit
A maturity benefit of 25% of the sum insured plus declared bonuses are payable on maturity (end of the policy term).

Survival Benefit
A payment of 25% of the sum insured is paid each year in the last 3 years of the policy term prior to the maturity date provided the life insured is alive.

Death Benefit
A payment is made to beneficiaries if the life insured passes on during the term of the policy. The following terms and conditions apply:

If death occurs during the first five (5) years of the policy.

  1. Natural or non-accidental mean:
    Premiums paid for Bula Smart is paid to beneficiaries plus a compounded interest which will be advised at the time of payment

     

  2. Accident means:
    The sum insured and the declared bonuses will be paid to beneficiaries.
    

    After the first five (5) years, normal death cover will apply i.e., the sum insured plus declared bonuses will be payable.

    Bereavement Support
    On presentation of the notification of death of the life insured, a bereavement support of 10% of the sum insured or up to $3,000 will be paid (whichever is lesser)

Interim Accidental Death Cover
Immediate Accident Coverage will be activated for the life insured as soon as the completed proposal is received by the sales advisor. This benefit guarantees a payout of either the sum insured from the base cover or $50,000 (whichever is lesser) in the event of accidental death before the policy is officially issued.

This coverage will terminate 30 days after the proposal is received or on the policy commencement date, whichever comes first.

Minimum Entry Age – 17
Maximum Entry Age – 59 for 15-Year Term, 54 for 20-Year Term and 49 for 25-Year Term
Maximum Cover Age – 74 years
Term range from 17 years to 74 years
Minimum sum insured is $15,000
Maximum sum insured $250,000 (per life insured basis)

Additional Benefits

More benefits provided by your 

Bula Smart policy.

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Non-Forfeiture Option

This is available to those who want to utilize the accrued policy cash value to pay for some due premiums or if they want to cease paying premiums altogether and still have an insurance cover to acquire a paid-up insurance either in form or paid-up cash advance.
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Cash Value

The cash value of the policy will accrue after the policy has been in force for 3 consecutive years with the premiums for the 3 years fully paid. This cash value is also known as the surrender value. The cash value is payable to the policy holder in the event the policy is voluntarily terminated before death or maturity.

Once this option is taken, the policy is terminated.

Any policy debts will be deducted before the surrender proceeds are paid out.

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Loan

The cash value of the policy can be accessed through policy loans after the policy has been in force for three (3) consecutive years and the premiums for the first three (3) years are fully paid.

Optional Benefits

Enhance the value of your cover
with one or more of the following
optional benefits with affordable
premium levels.

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Accidental Death Benefit Rider

Offers an additional payout to your beneficiary if you pass on due to an accident. Payouts can be up to four times the base product’s sum insured capped at $3 million.

How Can I Apply ?

Application Form
Bula Life Brochure

Call: 132 700

or contact your Insurance Agent today.

Term & Conditions Apply

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