For 2017: $7 Million Dividend, No Rate Increases
The Board of Directors of SVMIC is pleased to announce a $7 million dividend for policyholders again this year. This amounts to approximately 5.5% of annual premiums. SVMIC has now issued dividends in 33 of its 41 years in business. Further, the Board has decided to keep premium rates unchanged for 2017. SVMIC has not had a rate increase since 2008; when adjusted for inflation, average premiums now are nearly the lowest in the history of your company.
The contents of The Sentinel are intended for educational/informational purposes only and do not constitute legal advice. Policyholders are urged to consult with their personal attorney for legal advice, as specific legal requirements may vary from state to state and/or change over time.