The Lafayette Life Insurance Company is pleased to announce that its Board of Directors has approved a record $70.9 million dividend allocation in 2022 to policyholders, once again demonstrating a strong financial position. This all-time high dividend payout marks the 117th consecutive year that Lafayette Life will be paying a dividend.
Effective January 1, 2022, the 2022 dividend rate will be maintained at 5.2% for all dividend-paying policies written after June 15, 2005. This significant payment demonstrates Lafayette Life’s unwavering commitment to providing value by increasing its total dividend allocation as compared to 2021.
“We are proud of our legacy of delivering competitive product performance, while managing risk and making prudent investment decisions that maintain the exceptional financial strength of our company,” said John H. Bultema III, president and chief executive officer. “Dividends are driven primarily by investment results, mortality and overall company expenses. In spite of sustained low interest rates, Lafayette Life’s disciplined approach enables us to continue to deliver on these commitments in 2022.”
“Our mission remains the same—to be a financially sound, highly rated, growth-oriented company, dedicated to meeting our customers’ needs and expectations for life insurance, annuity products and retirement services,” Bultema said.
Lafayette Life strives to achieve its mission by:
• Ensuring company financial soundness and future policy benefits through solid business management practices and prudent investments.
• Helping clients, through its representatives, evaluate their insurance needs and recommend products that are best for their situation.
• Offering quality products and services that are fairly priced and competitively valued.
• Providing concise and understandable contracts with supportive information for the client.
• Maintaining the integrity of the company, including being forthright in all communications.