Setting Our Dividend Scale

Dividend Scale

How we calculate dividends

We are maintaining the policy dividend scale for all “closed block” participating policies purchased before Phoenix Life Insurance Company’s June 2001 demutualization, effective January 1, 2019. The dividend scale for the small number of participating policies in the “open block” (purchased after demutualization) also will be maintained for 2019.

Each year, we must decide whether to maintain or change the dividend scales for calculating dividend payments after considering several factors, including historical performance and future expectations.

Because we are maintaining the dividend scales, many policyholders will see an increase to the dividend paid in 2019 compared to the dividend paid in 2018, reflecting growth in the value of their policy. As always, the amount of dividend paid is based on a number of factors including product type, age at issue, length of time the policy has been in force, gender, and health when the policy was issued. Some policyholders will see a decrease. These include policyholders with loan balances or loan interest rates that affect the size of the dividend paid.

Please note we changed the name of Phoenix Life Insurance Company to Nassau Life Insurance Company. Rest assured that the company name is the only thing that changed. All policy terms, including terms and conditions for dividend-eligible policies, remain the same, and the closed block continues to be managed in accordance with the original Plan of Demutualization.

If you have any questions about your policy, please contact our Customer Care Center at 800-628-1936.