“If I change my work, I will definitely sign up for a personal insurance cover. My family has to be ready and should be safe always and that is exactly how we feel right now.”Mr Shaheil Hussein | BSP Life Customer
Bula Elite Funding Long Term Needs
Financial planning for short as well as long term needs can be a challenge. Imagine a product that delivers this whilst ensuring financial protection for your loved ones. We’ve got the solution for you.
Bula Elite is an innovative life insurance solution that can assist you balance your short term and long term needs with regular cash payouts. You receive 10% of the base Sum Insured on your policy every 3 years and 100% plus any declared bonuses at maturity.
Enjoy regular returns and obtain peace of mind with Bula Elite.
Features & Benefits of Bula Elite
The Bula Elite offers regular returns and gives you peace of mind, here are some features and benefits.
Cash Returns Every 3 Years
Provides cash returns every 3 years (except for the 25 year term). The payout at each interval is 10% of the base sum insured.
Flexible Policy Terms
Select a policy term of 15, 21 or 25 years.
Guaranteed payment of 100% of the base sum insured plus declared bonuses at the end of the policy term.
Bonuses are declared annually and added to your policy on a compounding basis.
Cover your spouse (legal or de facto) as the second life insured with a term life rider benefit.
Accidental Death Rider Benefit
You can also cover your spouse with the accidental death rider benefit.
Death Benefit With Bonuses
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.
World Wide Protection
The security of world wide protection covers you 24 hours a day anywhere in the world.
Policy Debts Deduction
Policy debts (if any) will be deducted from all payments made.
Bula Elite accumulates a ‘Cash Value’ if your policy remains in force for 3 consecutive years and 3 years premiums are fully paid.
Terminal Illness benefit is a partial payment of the Death Benefit. 50% of the sum insured plus declared bonuses is paid 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. This benefit will not apply for a life insured less than 10 years old or for any Terminal Illness declared within two years from the benefit commencement date.
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.
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 is 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 & Permanent Disability
This benefit provides cover in the event of total and permanent disablement of the first life insured through accident injury or illness whereby the insured is unable to work again.
This benefit provides cover for defined illnesses and/or conditions that are likely to have a serious effect on the first life insured’s lifestyle.
Waiver Premium for Disability
Future premiums will be waived if the *waiver life is totally and permanently disabled.
*Waiver life – refers to s 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:
- Lump sum payment
- Annual, semi-annual, quarterly
- Monthly or fortnightly