The Guardian Life Insurance Company of American has announced its plans to pay $847 million in dividends to its participating policy holders. This represents the highest gross dividend payout in the company's history and a gross increase from last year of1.3% or $10 million.
The dividend scale (or dividend interest rate) will decline from 6.05% to 5.85%. Guardian does have a unique quirk to dividends that alters the dividend for currently in force policies that could ultimately mean policyholders receive a slightly higher dividend than the current scale would pay them. Prospective policyholders, however, will receive dividends based on the new scale.
You can read the press release from Guardian 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.