Northwestern Mutual has announced that its policyholders will receive an estimated $5.6 billion in dividends through the company’s 2019 dividend payout. The payout is expected to lead the industry, according to the firm. It’s also expected to be the highest payout in the company’s history.
Northwestern Mutual has paid a dividend every year since 1872. The company leads the industry in total dividends paid to policyholders for both life and disability income insurance.
“This record dividend clearly demonstrates our consistent performance, our overriding commitment to do what’s best for our policyowners, and our industry-leading ability to deliver long-term value,” said John E. Schlifske, chairman, president and CEO of Northwestern Mutual. “Staying focused on business fundamentals – sound underwriting, disciplined expense management, and investment performance – is core to our financial strength in all economic seasons.”
Policyholders who hold whole life insurance, disability insurance and some annuity products are eligible for dividends. The dividends can be taken in cash or used to reduce the cost of premiums, or, for life insurance, increasing the cash value and, in many cases, death benefit.