Policyholders standing firm
THE BARBADOS INVESTORS and Policyholders Alliance (BIPA) won’t be satisfied with the CLICO International Life (CIL) solution now on the table unless it includes full reimbursement of the dozens of people whose policies have already matured.
And by full compensation BIPA means every last cent invested by that group of policyholders – plus interest.
“I believe strongly that those persons whose policies have matured should get their 100 per cent in cash right away and not just the principal,” BIPA chairperson June Fowler insisted in an interview with the MIDWEEK?NATION.
Of BIPA’s 385 members, 46 have policies that have reached maturity – 39 of them being Executive Flexible Premium Annuities (EFPAs) and the other seven in Flexible Premium Annuities (FPAs).
Read the full story in today’s MIDWEEK NATION.