MLMIC’s Board of Directors has approved a 20 percent dividend for all MLMIC policyholders who are insured as of May 1, 2016, and maintain continuous coverage through July 1, 2016.
MLMIC’s mission is to provide insurance at cost. To offset premiums, we offer dividends to our policyholders whenever we can. Our competitors often promise low initial premiums to attract business, but MLMIC continually operates without a profit motive. Instead, we work to provide much needed relief to our policyholders, while maintaining financial stability.
MLMIC remains a mutual insurer, owned by our policyholders, and we are committed to policyholder-first service. Over the years, MLMIC’s financial strength has allowed us to pay more than $300 million in dividends to our policyholders, an accomplishment unmatched by other insurers.