Dividend Scale

How we calculate dividends

We are maintaining the policy dividend scale for all “closed block” participating policies purchased before the June 2001 demutualization of Phoenix Life Insurance Company (now Nassau Life Insurance Company), effective January 1, 2024. Our decision reflects consideration of several factors, including historical performance and future expectations.

The average dividend interest rate will remain 4.90% in 2024, with a policyholder’s actual dividend interest rate subject to specific policy terms.

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 may see a decrease for reasons including mortality, loan balances or loan interest rates that affect the size of the dividend paid. However, a policy’s 2024 dividend will be at least equal to 75% of the 2023 dividend prior to loan adjustments.

We are also maintaining the dividend scale for the small number of participating policies in the “open block” (purchased after demutualization).

Please note that when we changed the name of Phoenix Life Insurance Company to Nassau Life Insurance Company, 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 the Nassau Service Center Team at 1-800-628-1936.

Note to Former Foresters Life Insurance and Annuity Company Policyholders

This policy dividend scale announcement does not apply to policies that originated with Foresters Life Insurance and Annuity Company (FLIAC). If you have any questions about your FLIAC policy, please call 1-800-832-7783.