National Life Board Approves Dividends for 2013
Montpelier, VT - The Directors of National Life Group have approved an estimated payment of $99.3 million in dividends to eligible participating policyholders in 2013.
“This payout is evidence of our financial strength,” said Mehran Assadi, president and chief executive officer of National Life Group.
Mutual companies are not publicly traded; they are owned by policyholders, who reap the benefit of profits above and beyond a company’s expenses and reserves necessary to finance future benefits.
“Dividends paid to policyholders are one of the benefits of our mutual structure,” said Assadi.
“We have been paying dividends since 1855 when, after its first five years of operation, National Life Insurance Company had a balance to distribute through dividends of $11,260,” he said. “We have come a long way since then, but one constant has been the payment of dividends.”
The dividends will be paid to eligible policyholders of National Life Insurance Company.
The Board of Directors approved the dividend payments at a meeting on November 9, 2012.
National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT and its affiliates.