A large mutual insurer says it will be continuing to pay a divided to policyholders despite the recent investment market slump.
The board of Northwestern Mutual Life Insurance Company, Milwaukee, says it will be paying the holders of its participating insurance policies a total of about $4.6 billion in dividends in 2009.
The company paid about $5 billion in dividends this year.
The company has cut the 2009 dividend rate on unborrowed funds in most permanent life insurance policies to 6.5%, from 7.5% this year.