Ohio National announces 2021 policy dividends

Ohio National announces 2021 policy dividends

2020-10-27 00:00:00.0

Company continues its legacy of paying dividends for the 97th consecutive year

Cincinnati – Ohio National Financial Services is pleased to announce its 2021 dividend scales for participating whole life insurance policies, reflecting an estimated $100 million to policyholders for 2021. This marks the 97th consecutive year the company has paid a dividend to eligible policyholders.

The payout represents a dividend interest rate of 4.70% for open block policies and 4.00% for closed block policies.¹

“Since 1924 we have been able to deliver high value to our policyholders by providing dividends,” said Barbara A. Turner, Ohio National president and chief operating officer. “Despite the challenges from the current low interest rate environment, which we see extending into the foreseeable future, we are continuing our long history of annual dividend payouts to our policyholders.”

“The 2021 dividend scale reflects the impact of the continued low interest rate environment; a significant factor in leading to the adjustment of the dividend interest rate to better reflect rates available in the marketplace. This dividend payout highlights our prudent investment philosophy and continued commitment to our policyholders for their financial well-being” Turner added.

Ohio National has consistently received high marks for financial security and claims-paying ability from four major independent analysts – A.M. Best, Fitch, Standard and Poor’s and Moody’s.²

About Ohio National

Since 1909, Ohio National has been committed to helping individuals, families and businesses protect what matters most. Through our network of financial professionals across 49 states (all except New York), the District of Columbia and Puerto Rico and through affiliated operations in South America, we provide the insurance products that help our policyholders achieve financial security and independence. As of December 31, 2019, its affiliated companies have $40.5 billion total assets under management. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Please explore ohionational.com for more information and for the latest company updates, connect with Ohio National on LinkedIn, Facebook and YouTube.

This material is for general use with the public and is not intended to provide investment, insurance or tax advice for any individual.   

1 On August 1, 1998, Ohio National reorganized as a Mutual Holding Company. The reorganization called for the company to "close off" the block of whole life business written prior to this date so that it would be unaffected by the future experience of the company. This also involved the segregation of specific assets to support the closed block for the protection of the policyholder. The current yields of the portfolios supporting the closed block and our open block diverged in 2010 to the point that two different dividend interest factors were required. Dividends are not guaranteed.

 

2 The strength of our company is backed by high marks for financial security and claims paying ability from independent rating analysts. These ratings include:

  • “A” from A.M. Best Company, its third-highest ranking out of 16 categories
  • “A-” from Fitch, its seventh-highest on a 21-part scale
  • “A-” from Standard & Poor’s, its seventh-highest ranking on a 21-part scale
  • “A3” from Moody’s, its seventh-highest ranking on a 21-part scale

All ratings information is according to reports published on: standardandpoors.comambest.com/ratings ,fitchratings.com and moodys.com/insurance. Ratings are accurate as of 10/20/20. For the most current ratings, see ohionational.com.

Media Contacts

Lisa Doxsee

513.794.6418
lisa_doxsee@ohionational.com

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