Introducing The Legacy Fund
The Legacy Fund is an exciting initiative that recognizes our members' commitment to quality medicine and their loyalty to Medical Mutual.
This innovative program creates individual member savings accounts for the benefit of our physicians in North Carolina, Virginia and Georgia. Medical Mutual's strong operating results and sound investment strategies have enabled our Board of Directors to allocate another $9.7 Million to The Legacy Fund and to issue a $4.9 Million policyholder dividend in 2015. The cumulative Legacy Fund allocation is now at approximately $94.2 Million and the five-year dividend total is approximately $18.5 Million.
The Legacy Fund offers qualified physician members the chance to benefit financially as the economic value of Medical Mutual continues to grow. Since the program's inception in 2009, 630 qualified physician members have received $4.1 Million in Legacy Fund awards, with the largest individual account balance at $81,000 and the largest distribution totaling $60,000. Approximately 50% of the company's net income is returned to members in the form of dividends and allocations to their Legacy Fund accounts. Balances in these Legacy Fund accounts will mature tax-deferred in value and are eligible for future contributions. An individual's Legacy Fund balance will be paid to member physicians upon designated events, including a qualifying retirement.
Our goal is to reward your commitment and loyalty by providing this tangible, cash distribution opportunity.
Loyalty. Partnership. Trust. These are the qualities that build a lasting legacy.