Who’s Getting What You’ve Got When You’ve Gone?

• Colina’s FREE public forum addresses fundamental contractual right of individual life insurance policyowners

NASSAU, BS – 25 January, 2012. Colina Insurance Limited, a leading life and health insurer, is set to host the second edition of CONNECT, the company’s sustainable insurance literacy and financial planning programme, at 6:30pm on Thursday, January 26, 2012 at the Sheraton Cable Beach Resort. This session, themed “Who’s getting what you’ve got when you’re gone?” will focus on the life claims process as well as the legal considerations and importance of choosing the right beneficiary, including factors that affect whether the proceeds of a life insurance policy are distributed as the insured intends.

Life insurance is one of the most flexible estate planning tools available and many people’s most valuable asset. Naming a suitable beneficiary of a life insurance policy is one of the most important contractual rights of a policyowner, yet all too often it does not receive the attention it deserves. “Who’s getting what you’ve got when you’ve gone?” is designed to focus thought among clients and the general public on the soundness of their estate planning strategy regardless of their socio-economic category.

Presenters will discuss the factors that should qualify or disqualify a person from consideration as a beneficiary, the benefits of naming a corporate trust as a beneficiary, the life claims process from submission to final payout, and the impact of the Married Women’s Property Act on how life insurance proceeds are distributed.

The panel will include Janice Butler, Manager of the Central Processing Unit at Colina; Mary Rodland, Head of Fiduciary at Ansbacher (Bahamas) Limited; Millicent Wong, Assistant Manager of Colina’s Life & Disability Claims Unit; and E. Terry North, Partner at Alexiou, Knowles & Co. Counsel & Attorneys-at-Law.

“Studies conducted by several leading global research firms have shown that consumers  find insurance terminology and information relative to insurance the most difficult to comprehend when compared to other sectors,” says Colina’s Vice President of Life Operations, Wendy Butler. “CONNECT will allow Colina an opportunity to make a long-term commitment aimed at informing individuals of their rights and responsibilities as policyowners and helping them develop a long-term strategy which will allow them to make informed financial planning decisions.”

Through CONNECT, Colina will conduct free forums designed to help consumers gain a comprehensive knowledge of how to manage their life insurance and related financial planning products. More than 200 persons attended the inaugural session held in October 2011.

About Colina Insurance Limited

With more than $525 million in total assets and over $115 million in total equity, Colina Insurance Limited (a wholly owned subsidiary of Colina Holdings Bahamas Limited) is The Bahamas’ largest provider of life and health insurance and related financial planning products. The Company has a presence in The Bahamas spanning over 150 years. Colina remains steadfast in its commitment to more than 100,000 life and health policyholders whose coverage gives them Confidence for Life. Colina is rated A- (Excellent) by A.M. Best Company.