The MassMutual Life Insurance Company announced its 2015 dividend. Citing the fact that this will be the 17th year the Springfield, MA based insurer has paid over $1 billion in dividends to its participating policy holders.
The exact dividend payout will total $1.6 billion in total representing a $92 million increase over last year and the dividend interest rate will be 7.1% in 2015. This means the dividend interest rate will remain at the same level as 2014.
Chairman and CEO Roger Crandall noted that MassMutual's enduring financial strength, long-term investment strategy, and diverse mix of business were all contributing factors to the payment of this dividend.
Of the $1.6 billion to be paid in dividends $1.55 billion will go to participating whole life policy holders with the remaining funds to go towards other participating insurance policies issued by MassMutual and/or its subsidiary companies.
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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.