(Image: Allison Bell/TA)
Two big U.S. mutual life insurers are taking a cautious approach to 2019 policy dividend projections.
Northwestern Mutual Life Insurance Company says it will increase its dividend rate slightly, to 5%, from 4.9% for 2018. The company expects total dividend payments to increase to $5.6 billion for 2019, from $5.3 billion for this year.
Massachusetts Mutual Life Insurance Company says it will hold its dividend rate at 6.4%. MassMutual expects its total dividend payments to increase to $1.72 billion, from $1.6 billion.
A mutual life insurer is a life insurance company that is owned by some or all of the company's policyholders, rather than by stockholders, partners in a partnership, or sole proprietors.
Northwestern Mutual offers dividends to holders of participating whole life policies, disability insurance policies and some annuities.
