Survival Benefit payout

BSP to pay K1.3m in survival benefits

In making this milestone announcement this week, BSP Life PNG Country Manager, Nilson Singh said the payment of the survival benefit is a seamless process where once the customer confirms their current bank account details, the benefit is deposited directly into their bank accounts.

The Survival benefit is also tax free as per the current Income Tax Act.

“We have already commenced the Survival Benefit payment from this month, and we are expected to pay out in excess of K1.3m to 450 individuals from February through to December 2023,” Singh said.