New York Life Insurance Building; New York City New York Life Insurance Building (Photo: New York Life)

New York Life Insurance Company says it expects to pay $1.8 billion in dividends to eligible participating policyholders in 2019.

That payout reflects a 1.1% increase from the $1.78 billion 2018 dividend payout total.

(Related: Two Big Mutuals Post 2019 Dividend Estimates)

New York Life is a policyholder-owned mutual insurer. The company has paid dividends to its policyholders every year since 1854.

In addition to paying dividends on life insurance policies, the company pays dividends on participating mutual income annuities.

Northwestern Mutual Life Insurance Company recently said it expects to increase its dividend payout to $5.6 billion in 2019, up from $5.3 billion this year.

Massachusetts Mutual Life Insurance Company said it expects to increase its dividend payout to $1.72 billion, from $1.6 billion.

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