During which year did the insured receive a dividend check from the insurance company?

The choice indicating "Last year" as the year the insured received a dividend check is correct because dividend payments are typically issued after a policy has been in effect for a certain period, reflecting the insurance company’s performance and profitability.

In many cases, dividends are declared annually based on the company’s surplus, accrued interest, and investment performance, often benefiting policyholders in the later years of their policies rather than immediately. Therefore, if the insured received a dividend check last year, it suggests that the policy had matured sufficiently to qualify for such a payment based on the operations and success of the insurer during that timeframe.

In contrast, referencing the first or second year may imply a time frame before the insured had built enough policy equity or when the insurer was not yet in a position to distribute dividends. The phrase "this year" would not be valid as dividends typically reflect prior year performance and are distributed in the following year.