Dividend Policy for Participating Owners

What does this aspect of the dividend policy really mean for participating owners?

The dividends are a distribution of profit to the part policyholders. That's how we distribute the profit from the account back to the policyholders. We have to take all that profit and distribute it to all of our policyholders in a fair manner. Now, by virtue of what insurance is, the whole concept is to pool your money together to pay out benefits. And so it's in one way not like a bank account where $in, $out, we're talking about risk. You're putting money in to protect you in the event that may or may not occur. In the case of life insurance, hopefully it doesn't occur. And so when we make profit, it means we've paid out less than maybe than we anticipated, or that was priced for whatever the case may be.