In a skillet, heat oil over medium heat. Cook onion, bell pepper, and garlic in olive oil for 3 to 4 minutes.
Drain beans and transfer to a large pot. Stir cooked vegetables into beans. Season with bay leaf, thyme, sage, parsley, and paprika. Bring to a boil, and then reduce heat to medium-low. Simmer for 10 minutes.
Stir seitan into beans, and continue to simmer for 10 minutes.
Meanwhile, prepare the rice. In a saucepan, bring water and rice to a boil. Reduce heat, cover, and simmer for 20 minutes. Serve beans over steamed white rice.