Once Again, Penn Mutual Increases Dividend Award
Since the financial crisis in 2008, Penn Mutual has increased or maintained its dividend scale every year. And over the past six years, Penn Mutual has increased the dividend award payout. Penn Mutual is the only company among other major whole life competitors that has not decreased its dividend scale in the post-recession era.
Yesterday, Penn Mutual announced its dividend award payout for 2017, which will be $58 million to our policyholders – an almost 21 percent increase from last year’s payout of $48 million.
We are particularly proud of these accomplishments.
As I wrote last year, dividends remain the best measure of the performance of a mutual insurance company. The dividends a company can pay to its policyholders serve as concrete evidence of the quality and performance of the company.
Dividends are also a good reason to purchase your life insurance from a mutual company, which always acts in the best interests of its policyholders. While mutual companies pay dividends to their policyholders, publicly traded companies pay dividends to their shareholders. If you want a permanent whole life insurance policy that has the potential to build cash more quickly, a mutual company is the way to go.
For more on the importance of life insurance dividends and how you can make use of them, I invite you to watch our “Dividends 101” explainer video, which gives a quick overview.
When it comes to whole life insurance, the dividends matter. Penn Mutual has paid a dividend every year since 1847, and we take great pride in extending this long record of serving the best interests of our policyholders.
Dividends are not guaranteed and past dividend payments are not indicative of future dividend payments.