Phoenix Life Insurance Company is changing the dividend scale for all "closed block" participating policies effective January 1, 2016. The 2016 dividend scale reflects solid performance of the closed block overall.
While most policyholders will see an increase in their dividend payments in 2016, some will see a decrease. The impact on a specific policy will vary 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.
The closed block was established to fund policy dividends and guaranteed benefits for dividend-eligible policies after Phoenix demutualized and became a stockholder-owned company. It is set up to ensure that these policies and their dividend scales are managed for the benefit of policyholders. We are proud of our track record of providing competitive dividend payments that add value to participating policies.
Participating policies in the “open block” have a separate dividend scale that will not change in 2016.
If you have any questions, please call our Customer Care Center at 800-628-1936.