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October 27, 2010 at 08:00 PM
Northwestern Mutual Life Insurance Company expects the total amount of dividends it pays to its policyholders to increase to $4.9 billion in 2011, from $4.7 billion this year.
Northwestern, Milwaukee, had to cut the dividend payment total to $4.6 billion in 2009, from $5 billion in 2008, as a result of the 2008 credit market crisis, but it has succeeded at paying dividends every year since 1872.
About 90% of the 2011 dividends will go to life insurance policyholders.
Dividend payments will increase to $123 million, from $120 million, for term life policyholders; to $233 million, from $225 million, for disability insurance policyholders; and to about $11 million for long term care insurance policyholders, from $8 million.
Holders of fixed and variable annuities will get about $27 million in dividends.
