New York Life noted this increase represents a 37% increase since 2011.
Out of the $1.7 billion dividend payout $1.6 billion will go to whole life policy holders.
Keeping with their tradition, New York Life did not announce the new dividend scale with their announcement. As soon as we have information on this we'll update it.
You can read the press release from New York Life 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.