Trinidad and Tobago

  • I am advised that within recent times, insurance companies have offered bank-like products.
    • They call them annuity contracts, but they are really bank-like products, where persons deposit funds in the insurance company.
    • There is some small life insurance component, but it is really a fund where interest is earned.
    • In fact, there are many people in Trinidad and Tobago who have these flexible annuities or annuity contracts, they come by different names, with Colonial Life in particular, and these are really a form of fixed deposit.
    • It is a bank-like instrument.

—  Hon. C. Imbert

2009 0202 – Parliament of the Republic of Trinidad and Tobago – 203p