For many young Fijians, life insurance is often viewed as something to consider much later in life, after marriage, children or major financial commitments.
But for Ulamila Rayaya, a Leasing Administrator at BSP Life, planning ahead was a decision she made early, inspired by a strong sense of responsibility and long-term vision.
Career-oriented, positive and eager to grow, Ms Rayaya believes that financial planning is not just about preparing for emergencies, but about building security and discipline from a young age.
“I value security and I see life insurance as a smart financial decision,” she said.
“Because I’m still young, I wanted to be proactive about my future.”
Starting early for security
Ms Rayaya took out her life insurance policy shortly after beginning her professional career. At the time, she said, it was not driven by anxiety or fear, but by long-term vision.
“I wanted to plan long-term goals and protect myself and my family, instead of relying on others in times of unexpected life events,” she said.
She believes many young people mistakenly assume that life insurance is something to be delayed, when in reality, early uptake brings significant advantages.
“Life insurance is most powerful when you start young because it’s more affordable,” she said.
“You benefit from lower premiums, better coverage options and long-term financial security.”
Building financial discipline
For Ms Rayaya, life insurance is more than just a safety net.
She views it as a structured form of long-term savings, which can support future ambitions while encouraging responsible financial habits.
“Yes, it is a form of long-term savings,” she said.
“Savings that are untouched until the payout period, and you can use that to secure your future goals.”
Her long-term plans include purchasing her first home, both as a residence and an investment and eventually operating a solely owned business.
“My life insurance policy plays a vital role in this plan because it provides a safety net and helps me develop disciplined financial habits,” she said.
“That’s essential for long-term stability and security.”
Busting common myths
One of the biggest challenges, Ms Rayaya said, is changing misconceptions around life insurance, particularly among young people.
“One of the most common myths is that life insurance is very expensive and only for the rich.That’s not true. It’s meant for everyone who wants to plan for the future and protect themselves financially.”
She said insurance products are designed to be accessible, regardless of disposable income.
“From my own experience as a young policyholder, I believe this will be one of the wisest decisions you’ll ever make,” she said.
Influence of lifestyle and social media
Ms Rayaya also acknowledged that social media and lifestyle culture play a major role in shaping young people’s financial attitudes, not always positively.
“Most young people are influenced by social media through spending too much and chasing trendy experiences,” she said.
“That delays thinking about financial protection.”
Despite this, she believes awareness and education can help shift mindsets.
Her message to young people considering life insurance is direct and straightforward.
“Start as early as possible,” she said.
“It’s cheaper when you’re young and healthy. You’ll develop good financial habits and secure your financial goals.”
