PPS GROUP PERFORMANCE AT A GLANCE PPS INSURANCE COMPANY (LIFE INSURANCE) About PPS Insurance Company provides long-term life, accidental death, sickness, critical illness and disability insurance for graduate professionals, a niche segment with a distinct profile and unique requirements. We aim to provide peace of mind, security and wealth protection for our members during their working lives and throughout retirement. To achieve this, our products and services offer features and benefits that many competitor products do not. Our flagship product – the PPS Sickness and Permanent Incapacity Cover – offers much more than other similarly positioned products available in the market. The sickness benefit is designed to support the member during an initial period of sickness for up to 728 days and the member does not have to prove loss of earnings to receive the benefit. In addition, any remuneration received during a period of illness is not aggregated from any other earnings that the member may have received during that time, nor does it have a negative effect on their participation in the PPS Group’s Profit-Share programme. Where a member becomes chronically ill or is permanently incapacitated, the Permanent Incapacity benefit replaces or supplements their income through to retirement, while benefits from their PPS Profit-Share Account and any retirement products they may hold continue to accrue. Other differentiators offered by the PPS life insurance product suite include the international cover and cover for hazardous pursuits that some professionals engage in recreationally, such as scuba diving or flying private aircraft. Also, unlike other offerings on the market, the PPS ethos of mutuality ensures that PPS members with qualifying life or risk insurance products automatically participate in the PPS Group’s Profit-Share programme. The PPS Profit-Share Cross-Holdings Booster further allows members with life insurance to boost their annual Profit-Share allocations by taking up other products offered by PPS subsidiaries and affiliates, such as PPS Short-Term Insurance, PPS Investments or Profmed medical aid. Through our unique mutual model all our profits are ultimately allocated to our members. Both operating profit and investment returns are apportioned to members’ PPS Profit-Share Accounts, which become available on retirement from age 60 or to their beneficiaries should they pass away before then. 30 Section title PPS Group performance at a glance
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