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Competitive
Newsletter Insight for Producers


MassMutual and key competitors’
Newsletter Headline
dividend interest rate actions
This chart gives you a sense of competitors’ current and historical dividend interest rates. The dividend
interest rate is not the rate of return on the policy. Dividends are composed of an investment component, a
mortality component and an expense component. The way companies apply dividend interest rates to calculate
dividends varies. Some companies quote gross rates. Others, including MassMutual, quote rates that are
net of investment expenses only, while yet others quote rates that take additional items into consideration.
For these reasons, dividend interest rates should not be the sole basis for comparing insurers or policy
performance. However, historical trends can provide some insight into how other companies have responded
to the economic climate over the past few years.


       Historical dividend interest rates

                 Year                  MassMutual*                   Guardian                     MetLife                 New York Life              Northwestern
                 2002                        8.05                       8.00                        7.35                       7.32                        8.60
                 2003                        7.90                       7.00                        7.10                       6.79                        8.20
                 2004                        7.50                       6.60                        6.60                       6.79                        7.70
                 2005                        7.00                       6.75                        6.60                       6.79                        7.50
                 2006                        7.40                       6.50                        6.25                       6.79                        7.50
                 2007                        7.50                       6.75                        6.25                       6.79                        7.50
                 2008                        7.90                       7.25**                      6.25                       6.79                        7.50
                 2009                        7.60                       7.30                        6.25                       6.14                        6.50
                 2010                        7.00                       7.00                        5.75                       6.11**                      6.15
                 2011                        6.85                       6.85                        5.50                       6.11                        6.00
                 2012                        7.00                       6.95                        5.50                       5.80                        5.85


  *  efers to the MM-TBCC block of business, which comprises policies issued after the merger of Massachusetts Mutual Life Insurance Company and the
    R
    former Connecticut Mutual Life Insurance Company in 1996
** Company adjusted the method of dividend calculation in this year
Sources: 2002-2011 Full-Disclosure/Blease Research, 2011 Company Press Releases



                                                                                                            FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.




© 2011 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for
Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives.
LI7261  1211                                                                                                                                                     CRN201211-153989

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Dividend comparison

  • 1. Competitive Newsletter Insight for Producers MassMutual and key competitors’ Newsletter Headline dividend interest rate actions This chart gives you a sense of competitors’ current and historical dividend interest rates. The dividend interest rate is not the rate of return on the policy. Dividends are composed of an investment component, a mortality component and an expense component. The way companies apply dividend interest rates to calculate dividends varies. Some companies quote gross rates. Others, including MassMutual, quote rates that are net of investment expenses only, while yet others quote rates that take additional items into consideration. For these reasons, dividend interest rates should not be the sole basis for comparing insurers or policy performance. However, historical trends can provide some insight into how other companies have responded to the economic climate over the past few years. Historical dividend interest rates Year MassMutual* Guardian MetLife New York Life Northwestern 2002 8.05 8.00 7.35 7.32 8.60 2003 7.90 7.00 7.10 6.79 8.20 2004 7.50 6.60 6.60 6.79 7.70 2005 7.00 6.75 6.60 6.79 7.50 2006 7.40 6.50 6.25 6.79 7.50 2007 7.50 6.75 6.25 6.79 7.50 2008 7.90 7.25** 6.25 6.79 7.50 2009 7.60 7.30 6.25 6.14 6.50 2010 7.00 7.00 5.75 6.11** 6.15 2011 6.85 6.85 5.50 6.11 6.00 2012 7.00 6.95 5.50 5.80 5.85   * efers to the MM-TBCC block of business, which comprises policies issued after the merger of Massachusetts Mutual Life Insurance Company and the R former Connecticut Mutual Life Insurance Company in 1996 ** Company adjusted the method of dividend calculation in this year Sources: 2002-2011 Full-Disclosure/Blease Research, 2011 Company Press Releases FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC. © 2011 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. LI7261  1211 CRN201211-153989