Professional Provident Society Life Insurance is a mutual financial services company which has been in operation for over 71 years. The company boasts of a complement of over 210 000 professional members, one of the largest multidisciplinary group of graduate professionals in the world. Professional Provident Society Life Insurance was established in 1941 in South Africa by a group of eight dentists who sought a better system of providing financial security in the event of an illness or injury resulting in inability to practice and generate an income. Although the company has undergone significant transformation over the years the vision of the founding fathers remains the underlying rationale for the Group’s modus operandi.
Professional Provident Society Life Insurance can be clearly distinguished from many other companies listed on the Johannesburg Stock Exchange because PPS operates under an ethos of mutuality. This means that the company belongs to its members who have the right to exclusively share in the profits of the PPS Group. The insurance, healthcare and investment solutions offered by PPS are specifically tailored to meet the needs of graduate professionals.
The Professional Provident Society Life Assurance Plan makes provision for financial planning. This process involves collating all the relevant financial information, examining the existing financial status, setting short-term and long-term goals and mapping out a strategy on how to achieve those goals. Life goals may include saving for retirement, saving for your child’s education and buying a home. Through this assessment, an individual will have a holistic approach of where you are now, what may be required in the future and the measures to be taken to reach your desired destination.
The PPS Provider Plan is designed specifically for those graduate professionals seeking the best protection whilst they are starting out.
The PPS Student Plan is ideal for members who are still studying and are younger than 30 years. Members falling under this category enjoy reduced premiums.
PPS Sickness Cover
Cover is available for professionals who may be rendered unable to work and earn an income as a result of an illness or injury. Sickness benefits are paid out tax-free.
Incapacity Benefits are designed to cover permanently incapacitated policy holders. It also includes Bonus Units of Benefit which are granted annually and increase the monthly benefit.
- The Professional Provident Society Life Insurance products are available at highly competitive rates due to the low level of risk in the member pool.
- PPS makes it possible for members to temporarily cease premium payments in certain circumstances without accruing penalties.
- The PPS claim process is very effective without a prerequisite to prove loss of income before lodging a claim.
- Professional Provident Society Life Insurance pays out irrespective of whether or not you have any other existing policies or insurance cover.
PPS Contact Details:
PPS Member Services Contact Centre:
Tel 0860 123 777 (international: +27 11 644 4300)
Tel: 0861 777 146 / +27 11 644 4200