The New York Life Insurance Company has announced its plans to pay $1.6 billion to its participating policyholders in 2015. This will be an increase in total dividends paid of 11% over 2014.
Chairman and CEO Ted Mathas cited New York Life's diversified business portfolio, despite challenging low interest rates, as the leading driver behind the company's ability to increase total dividend payouts, which the company has done for the last three years.
Following a usual trend at the “Company you Keep,” New York Life left the actual dividend rate out of their announcement. Last year it increased 0.10% from 5.9% to 6%. As soon as we can get our hands on information regarding the exact dividend interest rate for 2015, we will update this page.
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Brandon launched the Insurance Pro Blog in July of 2011 as a project to de-mystify the life insurance industry. A specialist in the design and application of life insurance cash accumulation features, Brandon is one of the foremost authorities on the subject of coordinating life insurance cash values in a financial plan.