State Fund Today
We recently announced that the Board of Directors declared an approximate $102 million dividend to qualifying policyholders with policies that took effect between January 1 and December 31, 2023. This dividend equals approximately 10 percent of the estimated annual premium (EAP) reported during that period. In 2023, we reported approximately $1.023 billion in estimated annual premium (EAP) and netted $566 million in investment income.
The 2023 EAP dividend is available to policyholders who:
- Have policies that were incepted or renewed between January 1, 2023 and December 31, 2023
- Have policies that have not been canceled for cause before expiration
- Have cooperated with the final audit (if required) and have paid the final premium bill for the 2023 policy in full within 90 days of sending the final premium bill to the policyholder
Payment of the 2023 EAP dividend for eligible policyholders depends on the timing of the final audit and payment of the final bill. It will occur no sooner than 18 months after policy inception. The earliest payments will begin in the second half of 2024.
For more information about the 2023 dividend, please see our list of Frequently Asked Questions.