PPS: 2018 In Review

PPS: 2018 In Review

1024 701 Maysure Financial Services

PPS released their review of 2018 in their document “It Adds Up”.

What makes PPS unique as a financial services provider is that they are dedicated to graduate professionals, their business is based on creating targeted insurance products for professionals.

They are constantly evolving and adapting to be at the forefront of global technology innovation that affects how their members do what they have been trained to do, and the decisions and actions they take are solely based on member interests.

Having delivered satisfactory growth for their members in 2018, with R3.2 billion rand paid out in benefits, and R634.6 million in profit share allocation.

What you need to know about the Profit share account:

It is made up of 2 components, the Apportionment Account, and the Special Benefit account.

The Apportionment account is made up of the share of your monthly contributions to qualifying PPS products, and the Special Benefit account is made up of investment portfolio of PPS group.  The Special benefit account has in certain client portfolios reduced and this was due to the poor market conditions that were experienced in 2018.

Looking at 2018 in Review, this is what you need to know:

  1. Profit Share Allocations to Members in 2018: R634.6 million
  2. Benefits Paid to Members in 2018: R3.2 billion
  3. Exit Payments to Members in 2018: R1. billion
  4. Life Cover Paid out for Members in 2018: R511.8 million
  5. Sickness Benefits Paid out to Members in 2018: R541.7 million
  6. Critical Illness Benefits Paid out to Members in 2018: R216.0 million
  7. Permanent Incapacity Benefits Paid out to Members in 2018: R466.8 million
  8. Lump Sum Disability Benefits Paid out to Members in 2018: R151.5 million.
  9. Total Cancer Claims Paid for all products to Members in 2018: R266.2 million
  10. Motor and Household Benefits Paid to Members in 2018: R132.8 million

The causes and conditions most claimed for:

  • Life Cover Top 3 Causes
    • Neurological
    • -Injury
    • Cancer
  • Sickness Benefits Top 3 Causes
    • Diseases of the musculoskeletal system and connective tissue
    • Injury
    • Cancer
  • Critical Illness Top 3 Causes
    • Cancer
    • Cardiovascular diseases
    • Diseases of the circulatory system
  • Permanent Incapacity Top 2 Causes
    • Diseases of the musculoskeletal system and connective tissue
    • Psychological illness
  • Lump Sum Disability Top 3 Causes
    • Cancer
    • Diseases of the musculoskeletal system and connective tissue
    • Psychological illness

Cancer and diseases of the musculoskeletal system and connective tissue are the most common illnesses claimed for in 2018.

If you would like more information on your PPS profit share allocation, or to review your current products feel free to contact us:

? 011 839 2302

? info@maysure.za.com

? www.maysure.co.za