The Pennsylvania Mutual Life Insurance Company announced its plans to pay participating policy holders a total of $48 million in dividends for 2016. This represents an increase over last year of 17%. Penn Mutual also noted in their release that the total dividend amount is 61% higher than the total dividend payout five years ago.
The dividend scale (also known as the dividend interest rate) will remain at 6.34%. This now marks the 8th consecutive year that the dividend scale remains constant.
You can read the press release from Penn Mutual 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.