“We were delighted to find out that our client, who is on a long term claim with PPS Mutual, has continued to accrue a profit share allocation whilst on claim and that his Profit-Share balance is among the largest in PPS Mutual Australia. This highlights the inclusivity of the mutual model and shows that it benefits policyholders, despite unforeseen circumstances.”

“PPS Mutual has a very unique value offering with their niche target market, as well as the fact they are assigning some profits back to members. Clients I’ve spoken with about profit share have found this feature appealing, especially considering the majority of our clients at Skye Wealth are in their early 30s and the compounding effect of a profit share pool over the life of their policy can be significant.

I also like PPS being a mutual and the profit share shows an alignment and transparency between the insurance providers and policyholders. All too often in recent years, we are seeing massive increases in premiums from insurers with no visibility on their profitability, while it is a much harder story for PPS to do a big re-rate of premiums while still paying profits to policyholders and I think this was reflected in the recent much more policyholder friendly and more sustainably re-rate they did on income protection that was phased over a 3 year period instead of one massive hit or year on year increases like their on-mutual competitors.”

“PPS Mutual and the profit share offering have been a breath of fresh air in the life insurance industry. It provides great peace of mind as an adviser recommending their products that the business is centred around member service/benefits.

Every other insurer in the market has the competing interests of delivering shareholder returns and/or client service. These interests aren’t always aligned and we know which comes first in shareholder owned companies. It will be a great pleasure when clients get to the end of their insurance journey being able to return their profit share accounts.”