The Massachusetts Mutual Life Insurance Company announced its intentions to pay $1.7 billion in dividends to policyholders in 2016. This represents an increase over 2015 of about $100 million. This represents a modest increase over last year's $92 million year over year increase.
This is the fourth consecutive year MassMutual has increased the total dividend payment to its entire block of policyholders.
The dividend interest rate will remain at 7.1% for 2016. This will be the third consecutive year the dividend interest rate has remained at this level.
Whole life policyholders will receive $1.65 billion of the total $1.7 billion planned dividend payments across all participating policyholders.
You can read the press release from MassMutual here.
Brandon launched the Insurance Pro Blog in July of 2011 as a project to de-mystify the life insurance industry. Brandon was born in Northern New England, and he currently calls VT home. He attended Syracuse University and graduated with a triple major in Economics, Public Administration, and Political Science.