First policy handed to Low
By RACHNA LAL
Since being launched mid last month, BSP Life’s new product, Bula Elite, has already generated a lot of interest.
In a short time it has been available to the public, BSP Life says it has received more applications for Bula Elite than any of its previously-launched products.
Over $300,000 worth of sales has already been recorded in the first three weeks of its launch.
Bula Elite is designed to meet customer’s short as well as long term financial needs and at the same time provide beneficiaries’ added protection in the case of untimely loss of the life insured.
First Bula Elite policy handed
It was smiles all around when BSP Life managing director, Malakai Naiyaga, personally handed over the Bula Elite Policy to the first Bula Elite policyholder, Ye Low.
In handing the policy to Mrs Low, Mr Naiyaga said, “We appreciate the confidence you have in BSP Life as reflected in your investment in this new Bula Elite product.”
Mrs Low of Zen’s Medical Clinic in Nadi, said she and her husband thought Bula Elite was a good investment as it provided cash payouts every three years plus payment of the full sum insured on maturity with bonuses.
She said it also had the added benefit of life protection and would certainly assist them fulfil their life plans.
Returns from this policy
Bula Elite provides policyholders with cash returns equal to 10 per cent of the sum insured every three years and a guaranteed payment of 100 per cent of the sum insured at the end of the policy term.
Therefore, if you take a policy with $100,000 sum insured over a 25-year-term, you receive $10,000 every three years up till the 21st year equalling $70,000 with a final maturity payment of $100,000.
This would be in additions to declared bonuses that have accumulated through the policy term on maturity in the 25th year.
Three terms of 15, 21 and 25 years are offered and sums insured are tailored to meet customer’s 
needs.