Will You Buy a Clico Insurance Policy?

cilIf a Clico Insurance Agent calls today I would be polite and tell him to sell for another company. What will the Clico Insurance Agent offer customers? Will Agents say how many years Clico was in business before collapsing? Will Agents promise customers peace of mind, stability, security and Government backing? Can the Government appointed Board inspire customer confidence? Will Clico be run like the hospitals or the Ministry of Works? Can Agents promise it won’t?

The Clico Insurance Agent has almost nothing to offer customers other than the past misdeeds of the previous owners. Owners who gambled with people’s pensions and savings. Owners who should  be investigated by the police. How can anything on Clico’s website have any importance to today’s buyer. The website is only a piece of history and has nothing to do with the new Government sponsored company. People cannot base any future business on Clico’s boast of the past. On Clico’s website one requirement for potential Insurance Agents is “The Candidate should be free from personal financial problems.” This sounds like a sick joke.

Maybe in a recession people buy more insurance because people think more about suicide and insurance with Clico has a suicidal feel about it. If Clico cannot generate new business would the existing investors and pension fund holders suffer? I don’t know the answers and I am not willing to gamble my money to find out.


3 thoughts on “Will You Buy a Clico Insurance Policy?

  1. Pingback: Global Voices Online » Trinidad & Tobago: What’s your Policy?

  2. CLICO is now safer than it has ever been. The company is now gauranteed by the CB and as stated by the new head Mr. Ali all policies are covered. If i am to meet a CLICO agent I would give him a listening ear and open a policy with CLICO.

    The other competitors only provide Deposit Insurance to their clietns at a maximum of $75000.00 (www.dictt.com) however CLICO gives me full protection of my money.

    The company’s rates are good and despite the stat fund deficit which only occured as a result of Central Bank non acceptance of certain assets, the company is a strong company.

    Once you compare CLICO rates against the competitors you will realise that even though oour rates have dropped they are still the best. Also Bear in mind the other competitors offer only deposit insurance protection for all accounts that you have with them $75000.00 only for all your accounts collectively. Also note the Deposit Insurance Corporation does not cover Mutual funds.

    CLICO has served the nation of Trinidad and Tobago from the date its doors open to today. Many communities of Trinidad and Tobago as well as the wider Caribbean Region have benefitted from CLICO and CLICO continues to have community development on the forefront.

    The saying that no matter how much good you do you will always be remebered or refered to for the one bad thing that has come your way is true.

    People have to read the full facts and do comparisons of the benefits of leaving CLICO or not investing with CLICO. You must also remember the Strong Brand that CLICO is.

    Spend some time and read the facts as opposed to reading the propoganda.

    Citizen of TnT

  3. As far as the public is concerned Clico has crashed and now under a management team in Trinidad and Tobago who are not known to the public and even suspect because they are not known. This is the first sign that all is still not well with Clico. I haven’t seen too much confidence building ads from Clico so I can only base my judgment on headlines and the Board’s willful holding back of Clico’s good news.

    Don’t feel people are over confident about other insurance companies but in the minds on the public these companies haven’t failed. I can’t overstate this, but in the minds of the public Clico has failed and regardless how good the books look and how secure people say Clico’s funds are, the public has one impression right now. It was all over the news. In the financial world talk is too cheap and every finance man and member of the public knows this well. I think Stanford’s and Madoff”s books also looked good and they even said so.

    The man in the street isn’t going to put their life savings in a company that has a tarnished image and backed by a Government which the public perceives isn’t the best with finances, fair play or integrity. All I am saying is that Clico Insurance is a though sell.

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