Wednesday, April 24, 2024

September 27 new deadline for ResLife payments


Share post:

ResLife has extended its distribution time for settlement payments. In a release yesterday the company said September 27 is the new deadline for distribution of settlements to policyholder. The original concluding date was August 31.

ResLife commenced the distribution of payments to policyholders on June 11 as part of its voluntary liquidation which was mandated by the Government.

To date, ResLife has issued payments to about 10 000 policyholders with an estimated 17 000 entitled to settlements. While the majority of policyholders have been advised of their settlements via written correspondence, approximately 73 per cent of policyholders contacted have responded, with the majority having received their settlements to date.

“During this extended period, ResLife will be aiming to wrap up the issuing of payments to policyholders including those who declared policies lost and policyholders who required corrections to their payments.

“Policyholders who have not come forward as yet to collect their payments are encouraged to do so within the extended period. ResLife would like to significantly reduce the number of unclaimed settlements before transferring the remaining claims to the Financial Services Commission,” the release said.

ResLife will also be communicating with the trustees of the group pension plans during this period.

Prime Minister Mia Mottley, in her March 20, 2019 Budget, announced the planned liquidation of ResLife and the wrap-up of its operations.

Policyholder updates can be found on the company’s website www. (PR)


Please enter your comment!
Please enter your name here

Related articles

Port of Spain General Hospital NICU baby death toll jumps to 18

Port of Spain - Two weeks after the North West Regional Health Authority (NWRHA) announced that seven babies...

Sir David’s defence

Sir David Simmons, chairman of the Law Reform Commission, took on critics of the contentious Cybercrime Bill on...

Prescod: Don’t pay Drax a cent

Government would be wrong to pay the controversial Drax family $8 million to acquire the St George estate’s...

Fashion designer Nancy Gonzalez jailed for smuggling crocodile handbags into US

A celebrity handbag designer whose products have been used by Britney Spears and on Sex And The City...