BSP Life pays $7.4M more to policyholders

BSP Life has announced that it paid F$50.4M in various benefits to policyholders last year, $7.4M more than 2013.

BSP said of this, $44.3M was for Life Insurance benefits, $5.8M for Medical Insurance benefits and $0.3M for Travel Insurance benefits.

BSP Life’s Managing Director, Malakai Naiyaga said in 2014 they paid an average of $969,000 a week enabling thousands of their customers or policyholders to benefit from either their life or health insurance policies.

Naiyaga said their trend for benefit payments is increasing every year and it gives them great satisfaction to see many Fijian households benefiting from their investments with them.

BSP Life has over 50,000 policyholders.