Sales Support

2023 Dividend Scale

We are changing the policy dividend scale for all “closed block” participating policies purchased before the June 2001 demutualization of Phoenix Life Insurance Company (now Nassau Life Insurance Company), effective January 1, 2023. The 2023 dividend scale will incorporate a 0.50% (50 bps) dividend interest rate increase across all products, driven by strong investment performance.

As a result, most policyholders will see an increase to the dividend paid in 2023 compared to the dividend paid in 2022, reflecting this higher rate as well as growth in the value of their policy.

We are also making adjustments to the mortality component of dividends to reflect recent experience.  As always, the amount of dividend paid is based on a number of factors including product type, age at issue, length of time the policy has been in force, gender, and health when the policy was issued. Some policyholders will see a decrease for reasons including mortality, loan balances or loan interest rates that affect the size of the dividend paid. However, a policy’s 2023 dividend will be at least equal to 75% of the 2022 dividend, prior to loan adjustments.

We are also making similar changes to the dividend scale for the participating policies in the “open block” (purchased after demutualization).

Please note that when we changed the name of Phoenix Life Insurance Company to Nassau Life Insurance Company, the company name is the only thing that changed. All policy terms, including terms and conditions for dividend-eligible policies, remain the same, and the closed block continues to be managed in accordance with the original Plan of Demutualization.

If you have any questions about your policy, please contact the Nassau Service Center Team at 1-800-628-1936.

Other Important Information:

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Nicholas Brenia2023 Dividend Scale
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A Step-by-Step Guide to Electronic Contract Delivery

Our goal is to provide you with best in class service to help you save time and achieve your business goals. To that end, we’re excited to announce Nassau’s new electronic annuity contract delivery. Our new digital e-signature processes will help you confirm your client receives their final annuity contract quickly, securely, and easily.

Your client will have the option to agree to electronic contract delivery during the application process. They will need to complete the appropriate Consent Form, otherwise, the standard print/mail process will occur.

After the contract is issued and ready to be delivered, our New Business team will send you an email to securely access the contract and necessary delivery confirmation receipt documents digitally. A second level of authentication will be required to access this information through a unique passcode that will be sent through text or email. Email links expire after 48 hours.

Once you sign these documents electronically, an email will trigger to the client with the contract and confirmation of receipt. A second level of authentication will be required for the client to access this information through a unique passcode that will be sent through text or email. Email links expire after 48 hours.

After the client signs electronically, both you and Nassau will be notified via email, and the process is complete.

If you have any questions, please reach out to our New Business team at 1-800-541-0171. We’re happy to help.


For Producer Use Only. Not for distribution to the public.

Product sales must be appropriate based on a comprehensive evaluation of the customer’s financial situation, needs and objectives.

Insurance Products: NOT FDIC or NCUAA Insured | NO Bank or Credit Union Guarantee.

Annuities are issued by Nassau Life and Annuity Company (Hartford, CT). In California, Nassau Life and Annuity Company does business as “Nassau Life and Annuity Insurance Company.” Nassau Life and Annuity Company is not authorized to conduct business in MA, ME, MN and NY, but that is subject to change. In New York, annuities are issued by Nassau Life Insurance Company (East Greenbush, NY). Nassau Life and Annuity Company and Nassau Life Insurance Company are subsidiaries of Nassau Financial Group. The insurers are separate entities and each is responsible only for its own financial condition and contractual obligations.


© Nassau 2020

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Anthony LaRosaA Step-by-Step Guide to Electronic Contract Delivery
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