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MetLife To Pay $1.5 Billion In Policy Dividends

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A subsidiary of a major northeastern-based insurer has announced a distribution of dividends to its life insurance policyholders.

Metropolitan Life Insurance Co., a unit of MetLife, Inc., New York, (NYSE: MET), approved policy dividend payments of approximately $1.5 billion to eligible life insurance policyholders for 2010. The policyholders include MetLife clients with certain in-force permanent life insurance policies, primarily whole life, plus certain term life insurance policies, according to MetLife.

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MetLife says the policy dividends are based on the performance of participating policies, including investment returns, mortality, persistency and expenses, among other factors. The dividends are not guaranteed.