140% for successful and 155% for highly successful and excellent. Wasn't it the same last year?
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Our top two competitors (mass and ny life) sure get “the numbers”. Nm dividend rate was consistently higher till right around the beginning of JES tenure and continued to trend lowest but let’s not talk about that fact
You people have no idea how things work financially for the company you work for. I’m sorry you don’t understand but this is not conspiracy sh#t or different from Zore or JES. It’s just economics and math.
The last time the dividend was 8% or higher was 2003, last time it was 9% or better was 1993. The last time it was in the low 5% range was in the early to mid 70s. There is a lag as they reinvest money- everyone knows rates were very high in the early 80s but the dividends at that time were around 7%, then they increased to 9-11% in the following years. It’s going to go back up, it just takes time. Zore was CEO from 2001-2010, dividends went from 8.8% to 6.15% over that period of time.
They certainly were paying 8% years ago and their illustrations even quoted it. This was pre-John back when things at NM were good for employees and policyholders. The lowest under Zore was 5% and that was during the 2008 crisis.
Nope, they weren’t paying 8-9% 15 years ago and money market rates then were well below 5-6%. It is easy to verify the numbers. Did you mind getting 5% when CD rates were .1%?
As a su---r who purchased an overpriced NM whole life policy a number of years ago I can’t say that I’m overly thrilled with my dividend rate going from 5% to 5.15% while CD interest rates went from 0.1% to 5.6%. With prevailing interest rates being relatively high it’s disappointing to see such a small dividend increase. Fifteen-ish years ago CD rates were around 5 or 6% and the company was paying 8 and 9%. I guess the money’s needed for the excessive SLT and EO salaries and for the shiny new North building facade.
We have paid a dividend every year since 1876, it’s often been lower than 5%, many years in the 3-4% range. It’s going to go back up since they are able to reinvest money at higher interest rates now.
The company is doing well because we laid off dead weight. What don’t you get?
John must work at a different company because everything he said at the town hall was not what we are seeing.
- ) If the company is doing so well then why the layoffs and pinching budgets as if we have nothing left. Employee morale is at an all-time low. Satisfaction scores prove it.
- ) Dividends are the lowest they have ever been. Forget the hype about the total amount and focus on the percentage and what each policy earns.
- ) The field are beyond frustrated with services being reduced or taken away entirely.
The only positive news shared was John leaving.
They always do this. They get positive press for the AIP payout & the policyholder dividend payout. The press ignores the layoff's.
Considering all the layoffs, budget cuts, reorgs, etc. I'm really surprised it was funded this high again.
Remember, it’s 90% for all the mouth breathers here that are going to get a consistency needed.
Yes. I went back in time for a few previous emails and apart from the 170% back in 2021 or 22, it's been in the 120-130 range for a while, so I would say it's decent?