What You Need to Know
- Guardian will base dividends on a 5.65% rate.
- TIAA will add a 5% boost to traditional fixed annuity benefits.
- Guardian will pay $1.13 billion in dividends, and TIAA will pay $180 million in extra annuity benefits.
The Guardian Life Insurance Co. and TIAA have announced rates for extra 2022 payouts.
Guardian says it will base dividends for eligible individual life insurance policyholders on a dividend interest rate of 5.6%.
The rate will translate into a total 2022 dividend payout of $1.13 billion, according to Guardian.
That compares with a 2021 dividend interest rate of 5.65% and a total 2021 dividend of $1.05 billion.
What Your Peers Are Reading
TIAA says its board of trustees has increased to add 5% to lifetime income payments for holders of the TIAA Traditional fixed annuity who have annuitized.