The Board of Directors of The Northwestern Long Term Care Insurance Company has approved the first policyowner dividend in the history of the company. As a result of strong performance in company fundamentals, the estimated dividends credited to participating long-term care policyowners are expected to total $3.9 million in 2007.
"We are extremely pleased to announce our first ever long-term care insurance dividend, which demonstrates our commitment to doing what's right for policyowners," said Edward J. Zore, President and CEO of the Northwestern Long Term Care Insurance Company. "This milestone means a great deal to the employees of the company, our network representatives throughout the country and, most importantly, our policyowners."
The estimated dividends of $3.9 million are expected to impact more than 31,000 long-term care policyowners in 2007. Dividends paid on long-term care policies will be used to reduce the cost of future premiums.
The company's long-term care dividend announcement follows The Northwestern Mutual Life Insurance Company, the parent company of Northwestern Long Term Care, announcing its estimated dividend payout for 2007. The total projected dividend payout by Northwestern Mutual includes dividends paid on certain participating life insurance policies and disability insurance policies.
For information on Northwestern Mutual's estimated dividend payout in 2007, please see the company's press release -- Northwestern Mutual Announces 2007 Dividend Figures -- http://www.northwesternmutualnews.com/index.php?s=43&item=71 .
The Northwestern Long Term Care Insurance Company is a wholly owned subsidiary of The Northwestern Mutual Life Insurance Company, offering long- term care insurance through the representatives of the Northwestern Mutual Financial Network since 1998. It currently maintains the highest possible ratings from Standard & Poor's, Fitch Ratings, A. M. Best and Moody's.
The Northwestern Mutual Life Insurance Company, Milwaukee, WI (Northwestern Mutual), the nation's largest direct provider of individual life insurance, according to statistics compiled from A. M. Best data, has always received the best possible insurance financial strength ratings from Standard & Poor's, Fitch Ratings, A. M. Best and Moody's.
Northwestern Mutual, its subsidiaries and affiliates are also providers of annuities, mutual funds, disability income insurance and employee benefit services to the group employee and executive markets. These products and services are distributed through the representatives of the Northwestern Mutual Financial Network. Among Northwestern Mutual's affiliated companies are those that comprise the Russell Investment Group, which provide investment management and advisory services; Northwestern Mutual Investment Services, LLC (NMIS), a wholly-owned company of Northwestern Mutual, broker-dealer and member NASD and SIPC; and Northwestern Mutual Wealth Management Company, a wholly-owned company of Northwestern Mutual, limited purpose federal savings bank and a registered investment adviser which provides financial planning, investment management and trust services.
First Call Analyst:
SOURCE: Northwestern Long Term Care Insurance Company
CONTACT: Jean Towell of Northwestern Mutual, +1-800-323-7033,
Web site: http://www.northwesternmutual.com/