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MLMIC Policyholders to Receive 20 Percent Dividend

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.

You can find more about understanding dividends here, and of course you can contact us anytime with questions.

 

Posted in Dentists, Hospitals, Physicians

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16 thoughts on “MLMIC Policyholders to Receive 20 Percent Dividend

  1. George N. Marinides, M.D., Ph.D., FASN says:

    Will the dividend be paid in the form of a check to individual insured physicians or will it appear as a reduction of the premium?

  2. If I diminish my premium next month by becoming a nonoperative surgeon will the 20% dividend be based on the old or new premium?

    1. The dividend will be based upon the premium that is in effect on May 1, 2016. Therefore, the premium classification that is in effect on May 1, 2016, will determine the amount of premium credit that will be applied to your July 1, 2016, renewal.

    1. Again, the dividend will be based on the premium that is in effect on May 1, 2016. The dividend will be credited against your July 1st renewal policy. If your classification is changed after May 1, 2016, it will have no effect on the 2016 dividend.

  3. If I am insured effective May 1, 2016 and coverage is cancelled in July, will the premium credit be paid in the form of a check?

    1. If the policy is cancelled in July, the dividend premium credit will be applied to the earned premium, and if the credit exceeds the earned premium, then the credit balance will be paid as a check.

  4. Renato Mandanas says:

    When do I need to notify MLMIC tha I am renewing my policy to be eligible for the dividend? Renewal was automatic in the past.

    1. There is no need to notify MLMIC. In order to be eligible for the 20% dividend, you just need to be insured with MLMIC on May 1st and maintain continuous coverage through your July 1st renewal. All physician policies automatically renew on July 1st unless notified otherwise.

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