OVER K3 MILLION PAID TO BSP LIFE PNG INSURANCE HOLDERS

BY RAYLEEN WANJIMAN

Over 1,500 members of the PNG Health Support Workers Association are now receiving survival benefit payouts from BSP Life PNG under the Wantok Delight insurance product.

BSP Life PNG Chief Country Manager Nilson Singh made this announcement during a media conference at the BSP Waigani Head Office.

Mr. Singh said a total of 3.5 million kina for survival benefits would be paid throughout the year. With remaining members expected to receive payments in 2027.

The payout follows a partnership that began in 2023 when more than 2,000 PNG Health Support Workers Association members signed up for the BSP Life’s Insurance cover with premiums supported by the PNG Government before transitioning into individual policies under the Wantok Delight product.

Singh said many members who have already received their payments are using the funds for school fees, loan repayments, home repairs, family support and proving that life insurance can provide benefits while policyholders are still alive.

At the same time Singh raised concerns over the growing number of deaths caused by non-communicable diseases, with the average age of death affecting policyholders recorded at just 44 years.

Mr. Singh encouraged members to take their health seriously, remain physically active and continue paying their insurance premiums to secure future survival and maturity benefits. Aside from this, as per BSP Life PNG, members who continue to pay their insurance will recieve a 10% payout of the insurance