Blog

PPS Mutual is declaring the below Profit-Share Rates for the 2020 Financial Year.

PPS Mutual products are only offered to a defined group of Australian professionals. They operate on a mutual model, which means you’re a Member of the company and you share in its ownership. When you join PPS Mutual, you get exclusive access to a tailor-made portfolio of insurance benefits called PPS Mutual Professionals Choice – each one created to answer the specific protection needs of a defined group of Australia’s professionals.  After ten years’ membership you can start to withdraw this money from your Profit-Share account.

The balances of the Profit-Share Account are not guaranteed and the assignments can be positive or negative in any future year, however the Profit-Share balances can never go negative i.e. less than zero. Also, the Profit-Share Account will lapse if all the insurances on the life of the PPS Mutual Member lapse. At this point, only accessible balances will be paid out. The amount forfeited will be shared amongst the remaining Members as part of the next Profit-Share assignment.

The above information was prepared in September 2020, by PPS Mutual Insurance Pty Ltd ABN 21 162 670 108 AFSL 478775, which is a wholly-owned subsidiary of PPS Mutual Limited ACN 162 634 684. The PPS Mutual Limited Professionals Choice life insurance product is issued by the Insurer, NobleOak Life Limited ABN 85 087 648 708 AFSL 247302.  Please refer to the Product Disclosure Statement, available from a PPS Mutual Accredited Adviser, for more information on the Professionals Choice product before deciding to acquire the product.

Please note that information in our news feeds are  general information and you should not act on it, or rely on it, without obtaining personal advice.  To find out the insurance options that may be best suited to you, contact us here.

Always read the product disclosure statement issued by an insurer before considering to take out insurance.