| Winter 2009
Texas Mutual Wraps Up $75M Dividend Distribution
Dividends make strong statement in difficult economy
In November, Texas Mutual distributed approximately $1 million among nearly 2,600 new policyholders with acceptable loss ratios. The early-qualifier dividends represent the final phase of our $75 million individual policyholder dividend distribution.
To be considered for eligibility, a policyholder must have met the following minimum standards:
- The policyholder’s loss ratio must be within an acceptable range.
- The policyholder must have had a first-year policy expiring between January 1, 2009 and June 30, 2009.
- The policyholder must have had an in-force policy as of October 15, 2009.
Texas Mutual encourages agents to remind their clients that their dividend earning potential increases each year through their fifth year and thereafter with the company. If they leave before then or have a break in coverage, they start from square one if they return.
Dividends have helped agents like Jim Berger of Insurance Alliance retain good customers.
“When the insured sees that dividend check, he sees money coming back to him,” said Berger. “That’s instant gratification. We’ve seen people get 30 percent or 40 percent of their premium returned. It’s almost impossible to lose that account.”
Texas Mutual offers free tools to help agents promote dividends among their clients. Visit www. texasmutual.com for a sample dividend calculation tool and a flyer that illustrates our dividend history. You should also look for your clients’ dividend history with their quotes.
Of course, past dividends are not a guarantee of future dividends. But Ken Lauber, Texas Mutual vice president of field operations, said the company works hard to reward good customers when financial conditions allow.
“I think Texas Mutual made a strong statement with this year’s dividend distribution,” said Lauber. “The economy is tough for everyone, including us. But our board of directors, management and staff know how important this money is to our policyholders and agents. This is just another example of our long-term commitment to Texas.”
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