Canada Life has issued information packs on demutualisation. Eligible with-profits Canada Life policyholders should have received them this week. The items in the pack are: an explanatory letter, voting form and a two-part policyholder guide to demutualisation. Part one is a user-friendly guide to the process and includes colour-coded information sections.
Part two is a complicated prospectus document filled with legal terminology and numerous facts and figures. Although members should read both documents for legal reasons, part one may make part two easier to comprehend.
Some 54,000 people in the State qualify for shares with the average allocation expected to be between £1,746 and £2,583 (€2,217-€3,280). The number of eligible with profits policyholders represents less than a third of the total 180,000 Irish Canada Life policyholders.
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