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PPS SHORT-TERM INSURANCE – Profit-Share & Booster [Explained]

Posted by PPS Short-Term Insurance on Dec 11, 2020 7:35:18 PM
PPS Short-Term Insurance

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What if you could get more from your Short-Term Insurance?

Insurance is a necessity; it protects you, your business, assets and family from the unexpected. The premiums are a small price to pay for the peace of mind knowing that your family is protected. But what if you could get more for your premiums? More than prompt, quality service, more than coverage. What if you could get returns from the premiums you pay? That's what PPS offers with its Profit-Share & Cross Holdings Booster, a profit payout along with your claims.

The reason that PPS Short-Term has this unique offer is simple. The ethos of mutuality drives PPS. Everything that PPS does is to the benefit of policyholders. That is because shareholders don't dictate PPS, but its policyholders do. So, along with the insurance coverage, policyholders can benefit from the Profit-Share.

 

What is the PPS Profit-Share Account?

The concept of an insurance company is simple. It collects premiums, makes payouts when there is an incident and invests the rest. Here's what few people know – insurance companies make a distinction between the amount invested and the profits gained from those investments. The amount invested still belongs to the policyholder, but the profits from investments and operations usually go to shareholders.

Now here is where PPS separates from the industry norm; shareholder insurance firms give the profits from the investments to their shareholders, while PPS gives it to its policyholders. That's right, 100% of operating profits and investment returns made from your premiums are paid right back to you.

The money grows in your account and is accessible when you turn 60, so you can have a comfortable retirement. If you pass away before you turn 60, your beneficiary will receive the money.

 

What's the catch?

There isn't one. To access the Profit-Share Account, does not require extra paperwork, fees or premiums. All you need is a qualifying life policy product or benefit from PPS Group such as: 

 

  • Sickness and Permanent Incapacity Benefits
  • Professional Life Provider
  • Professional Disability Provider
  • Critical Illness Cover
  • Accidental Death Product
  • Education Cover

 

Once you hold any of the above products, PPS will automatically open a Profit-Share Account for you. Each qualifying PPS product that you hold deposits an allocation into your Profit-Share Account. So the more PPS products you have, the more allocations get deposited into your Profit-Share Account.

Remember, this is an added benefit to holding a policy with PPS. So no matter how much you claim, or what your health status is, you still qualify for a Profit-Share Account without penalties.

 

What is The PPS Profit-Share Cross-Holdings Booster?

Over the years, PPS has grown to offer more than life insurance coverage. We have built a portfolio of products for our members that include investment services and short-term insurance products. So, if you hold any of PPS's qualifying affiliate or subsidiary products, then you get an additional allocation into your Profit-Share Account. That means, if you own a product from PPS, you get an allocation for it; then you get an additional boost allocation from the affiliate or subsidiary products. The PPS products that can give you a boost are:

 

  • PPS Investment: PPS Investment Account, PPS Tax-Free Investment Account. PPS Endowment Plan, PPS Preservation Funds, PPS Personal Pension, PPS Retirement Annuity, PPS Living Annuity. PPS Vested Profit-Share Account
  • PPS Healthcare Administration: Prof Med Medical Aid Benefits
  • PPS Short-Term Insurance: Personal Line Products for Car and Home

 

Once again, the more of the above products that you hold the higher the allocation that goes into your Profit-Share Account.

 

How can I use the money?

The Profit-Share Account is accessible as a tax-free lump sum benefit from the age of 60. You can use it however you like, whether it is to supplement your retirement savings, go on holiday or purchase an asset. Alternatively, you can access it should you decide to end your coverage.

If you are interested in knowing what your Profit Share Account could yield for your future, then we can provide you with our Profit-Share Projection Tool.

 

Plan for the future you want

There is still a lot you want to achieve in life, and PPS will be there every step of the way. Through the tough times of expanding your skills or growing your business; the hard times of unexpected losses; and the good times of raising your family and retirement. Join an alliance of professionals who look out for each other through mutual interests.

 

Ready to start maximising your earning potential? 

 

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Topics: professional insurance, profit-share