If you're a current member, then you're eligible for the MVP program. You can be full-time or part-time, but you have to individually opt-in to be part of the plan. There is no cost to you to be part of the program.
The funding of the initial allocation is based on several factors but is roughly equal to one year's premium at $1 Million/$3 Million limits. Additional quarterly allocations will be determined by the Board of Directors on an annual basis.
Funds will be distributed when you permanently leave the practice of medicine. This can happen through retirement (if you're over 50), death, or disability. If you've been enrolled as an MVP for at least five years, you'll receive the full amount. If you haven't, you'll receive a prorated amount.
Below are some Frequently Asked Questions and answers. Of course you can always contact our team at (800)342-2239 or ContactSVMIC@svmic.com.
No. The MVP has no effect on premiums.
The MVP is funded from Policyholders’ surplus and will not affect future dividends.
None. The MVP is entirely funded by SVMIC.
As long as you meet all the other eligibility criteria, being in a group does not affect eligibility for MVP.
Yes, you can opt-in at any time. Your Initial Allocation will be made at the end of the quarter during which you opt-in.
You can opt-in online using your Vantage account, or you can complete a paper opt-in form and email or fax it back to us.
Our team is here to answer any questions you might have or to help you fill out a quote application.
We're always just an email or phone call away.contact us