The Pennsylvania Mutual Life Insurance Company announced today its plans to pay $33.2 million in dividends to its participating policy holders in 2014.
This payout represents a 7% increase in the total amount of dividends paid to Penn Mutual policy holders.
And what about the dividend interest rate?
The Dividend interest rate will stay put at 6.34%.
In an announcement that noted Penn's age (the second oldest mutual life insurer in the United States) and the challenging interest rate environment, Penn expressed its satisfaction in being able to maintain its dividend interest rate for a 6th consecutive year.
All in all, great news from Penn Mutual
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.