Thoughtfully Designed Protection
The President's Message
John H. Bultema III
President & Chief Executive Officer
Over the course of 2021, The Lafayette Life Insurance Company worked to equip its independent producers with whole life insurance, annuity, retirement and business-planning solutions to help serve the needs of individuals and businesses. All of this is delivered through the efforts of an expanding distribution base composed of more than 9,200 appointed independent producers. The insurance solutions are thoughtfully designed by Lafayette Life to continue to help protect the future well-being of policyowners and their families.
Solid Financial Results
Results achieved by year-end 2021 demonstrated increasing success. Lafayette Life’s GAAP operating income from our life and annuity business reached an all-time high of $67.6 million. That total represents an increase of more than 10% over 2020 and marked the seventh consecutive year of record operating gain. New life insurance sales grew by 20% for the third consecutive year.
In keeping with the company’s tradition of paying dividends on its whole life products — one dating to its 1905 origin — it expensed record dividends of $79.3 million to eligible policyholders in 20211.
Further validation of Lafayette Life’s financial strength and stability came early in 2021 as its Comdex ranking increased to 96. That ranking, a composite of all the ratings received from major rating agencies, is the company’s best ever.
Expanded Service Capabilities
To help producers better serve customers, Lafayette Life continued to expand and enhance its presence in retirement services. For over three decades, the company has worked to support the growing pension and planning needs of small businesses with employer-sponsored retirement plans and business planning strategies.
Building Confidence Through Competence & Strength
Producers value the advantages of partnering with Lafayette Life as a convenient, single resource for plan design, document services, administrative services, funding options and distribution planning.
Lafayette Life’s mission since its founding has been to maintain itself as a financially sound, quality-driven, growth-oriented company.
Today, it remains dedicated to delivering products that demonstrate value and performance in providing life insurance protections and small business solutions.