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"Approving a record estimated dividend payout amid continued challenging economic conditions is further proof of the soundness of our business strategy and the value we deliver as a mutual company that is run for the benefit of our members and participating policyowners," said
The approved estimated payout of
Customers who purchase eligible participating products from
Dividends for a given policy are influenced by such factors as policy series, issue age, gender, underwriting class, policy year and policy loan rate, as well as changes in experience. Of the total
"There's no better proof of our commitment to sharing our success with our policyowners than this approved dividend payout," said
Whole life policyowners can use dividends for a broad range of purposes. Options include receiving dividends in cash or using them to pay premiums, purchase paid-up additional insurance coverage, accumulate at interest, or repay policy loans and policy loan interest.
1The dividend interest rate is not the rate of return on the policy. Dividends consist of an investment component, a mortality component and an expense component. Therefore, dividend interest rates should not be the sole basis for comparing insurers or policy performance.
2 Financial strength ratings for
3Sales are classified as weighted sales, which are based on weighted annualized new premium, with single premium payments weighted at 10 percent.
Founded in 1851,