"PPS Members targeted" letter sent to members (February 2008):
Since 1941, PPS has offered graduate professionals, such as yourself, products and services tailored for the professional market. Being owned by our members has also meant that our success has been for the benefit of our members only. With PPS, not only do our members continue to enjoy great cover at fair prices, but they also continue to share exclusively in our profits and success.
Our circle of members continues to have the lowest mortality and morbidity experience in the country, which translates into more profits for members. PPS members whose Surplus Rebate Accounts are now worth hundreds of thousands of Rands will attest to what sharing in the success of PPS really means.
As other assurers try harder to compete in the professional space, you will be approached from time to time with shat may appear to be attractive offerings, some of which may appear very similar to your existing benefits with PPS. When you are considering such offerings, you should ensure that you are receiving advice relating to your benefits. They are also compelled by law to present information that is fair, accurate and not misleading.
Your adviser is there to help you make the right choices regarding your benefits, and should be able to answer any questions you may have in relation to PPS and its benefits. Our actuarial department is also available should you require any additional information.
Some critical questions are:
- What is my current Surplus Rebate Account(SRA) value?
- What allocations have been made to my STA over the last few years and how does this compare to the premiums that I have paid?
- What are the forfeitures for early termination, and why are they applied?
- What will my monthly premiums be should I decide to change my benefits? What would they have been had I left my benefits unchanged? PPS does not charge policy fees, is what I am being shown free of policy fees?
- Are the benefits being presented to me comparable to those I already have? My Occupation Specific Rider Benefit once awarded is never reviewed, is the product I'm being shown non reviewable?
- With PPS. I don't need to prove loss if income to claim. Does the product I am considering work the same? And does the company I'm considering aggregate my benefits with other sources of income? PPS will not aggregate my PPS benefits with any other income or benefits I receive.
- PPS covers me should I travel overseas or emigrate, irrespective of the country and without loadings and exclusions. What about the company I am considering?
- What commissions will you as my adviser earn from replacing any of my PPS benefits?
Tried, tested and trusted for over 65 years-PPS is recognised as a company of value, repute and integrity. We've always been available to our members, ready to support and assist them through every stage of their lives.
Consult your PPS product- accredited financial adviser or contact us now on 0861 777 121 and make sure that your maintain your all- important insurance cover with us!
Your sincerely,
PPS Insurance
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