The dividends to be paid in 2014 reflect a dividend interest rate of 7.1 percent for eligible policy holders.

MassMutual Financial Group has approved the insurer’s largest dividend payout in history for 2014.

The record payout to eligible policy holders is estimated at $1.49 billion. The dividends to be paid in 2014 reflect a dividend interest rate of 7.1 percent for eligible policy holders, an increase over last year’s rate of 7 percent flat.

Although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policy owners consistently since the 1860s, the company said Monday.

“It’s almost like a celebration for us,” said John W. Chandler Jr., a senior vice president at MassMutual. “It’s a sign of not only MassMutual’s strength as a company but it’s a good sign for our region.” 

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