Compassionate Relief Guidelines

These guidelines are developed to provide all interested applicants with the application process
for the Compassionate Relief Benefit.

PLEASE NOTE THAT CONTRACT HOLDERS WITH ASSIGNED POLICIES AND COLONIAL LIFE CORE FUND SERIES SIX INVESTMENTS (MUTUAL FUNDS) WILL BE UNABLE TO APPLY FOR THE COMPASSIONATE RELIEF BENEFIT AT THIS TIME

There are four (4) mandatory qualifying criteria and interested applicants must meet all of them
to be eligible or qualify for the Compassionate Relief Benefit.

The four (4) mandatory criteria are as follows:

1. Cash is for non-discretionary purpose including the necessities of life.
2. Failure to meet the need will result in serious prejudice to the client.
3. The need for cash is immediate.
4. Alternative sources of funds available to the client are limited

1. Copy of valid identification (Passport or National ID)
2. Compassionate Relief Application Form which is accessible via CLICO website (www.clico.com), and hard copies at CLICO Head Office and all Branch Offices. This form is to be signed in the presence of an authorized CLICO official.
3. Proof of ownership of STIPs Contracts with Colonial Life Insurance Company [Trinidad] Limited (CLICO) i.e. Original policy contract or a Declaration of Lost Policy Form if the original policy contract has been misplaced.
4. Statement of Affairs which adequately details contract holder's net worth and monthly income and expenditure A form is provided via CLICO website (www.clico.com), and hard copies at CLICO Head Office and all Branch Offices.
5. Job Letter with salary information, Pension Statement, Bank/Credit Union/Unit Trust statements. Investment certificates or proof of any other assets.
6. Supporting documents (e.g. medical letters, university acceptance, death certificates).
7. Tax Return & Notices of assessment and any other tax related correspondence.
8. Signed and witnessed Third Party Declaration Form by Commissioner of Affidavit which
is accessible via CLICO website (www.clico.com) and hard copies at CLICO Head Office and all Branch Offices.
9. Power of Attorney Registered in Trinidad and Tobago if applicable.
10. Account validation requirements showing name of bank and branch, type of account, account number and account holder’s name (e.g. Copy of Bank Statement, Savings Pass Book, Current Account Cheque Book)
11. Non-Resident applicants must provide notarized documents for applications for Compassionate Relief or appoint a Power of Attorney registered in Trinidad and Tobago to act on their behalf
12. Non-Resident applicants can submit Compassionate Relief Benefit applications to the following address:
    STIPS Document Centre
    Colonial Life Head Office
    #29 St Vincent Street
    Port of Spain
    TRINIDAD
13. Non-Resident applicants are advised to refer to Non-Resident Guidelines on our website www.clico.com

1. Contract holders are advised that the Compassionate Relief Benefit is designed to
   provide interim financial support in critical and urgent circumstances ONLY.
2. All requests for Compassionate Relief will be reviewed by an Evaluation Committee.
3. The Compassionate Relief Benefit will be considered in accordance with the following:
• All supporting claim documents have been submitted
• The amount payable will not exceed the contract’s Principal Balance
• Only those contract holders with principal balances over TT$75,000.00 will be entitled for consideration of this benefit
• The amount paid under this benefit will be determined on the basis of the need defined
  and the evidence provided
• The Compassionate Relief Benefit will not exceed TT$250,000.00 per contract holder
4. It is extremely important that interested applicants provide the Evaluation Committee with details of their present situation to ensure that an accurate assessment can be completed.
   • A practical example will be a patient on dialysis can provide details of the cost of dialysis treatments and provide supporting invoices etc.
   • Another example will be a mortgagee in default of mortgage payments should provide supporting documents outlining arrears due to mortgagor. Payments will be made directly to mortgagor.
5. All submitted applications will be reviewed for completeness and presented to an
   Evaluation Committee.
6. The Evaluation Committee is duly authorized to request a direct interview for any
   further clarification that may be required.
7. All applicants will be contacted within a reasonable time frame on the outcome of their
   evaluation via telephone or email.
8. All successful applicants will be paid via electronic transfer to the contract holder’s local
   bank account ONLY.
9. Interested applicants may contact us as follows:
   
   CLICO Contract holders: 671-7224 or via email address - stipsqueries@clico.com

Download the compassionate relief application form below. Please print this form on both sides on legal sized paper - 8.5 x 14 inches)

Compassionate Relief Application Form

Statement of Affairs

Statement of Affairs (Microsoft Excel Format)

Note: Forms require Adobe Acrobat Reader, which is freely available by clicking the icon below (link opens in new window).