BSP Life paid $499 million in customer benefits and processed over 123,000 transactions last year. In a statement, the company says this is the highest recorded in its 148-year history. Managing Director Michael Nacola stated that this averages $1.9 million in payouts and over 2,000 transactions weekly. Nacola says they currently service 73,000 policies covering over 100,000 lives and expressed gratitude for customers’ commitment to their policies, especially during times of financial strain. He added that the acceptance rate of 97% aligns with world best practices. The Managing Director says of the total $99 million, $71 million comprised payouts for life insurance policies tied to products like Bula Elite, Bula Prime, Bula Scholar, and Bula Delite. He says these payouts have helped customers with education, business startups, asset purchases, or well-deserved family holidays. Of the remaining $28 million, $17 million was paid for medical benefits, including local and overseas hospitalization, while $11 million was for death and disability claims.