PPS means Professional Provident Society, with ‘provident’ indicating ‘making absolutely certain you’ve prepared properly for your future’. In South Africa, the PPS has got over 20 000 associates comprised of professional people who have managed to graduate with a higher education degree. In recognition of their diligence in getting their college degree, the PPS provides them with the best supervision and safeguard of their financial circumstances and their medical care. The typical thread amongst all the members is they have over four years of hard studying behind them. The PPS is an one-of-a-kind company in South Africa: it is organized so that its members can benefit from the income and returns on investment funds into PPS Insurance, and shareholders that have PPS Investments can be associated with the profit of those investments.
The ordeals of eight dental practitioners on service throughout the Second World War in 1941 motivated these people to start a business that really looked after its members whenever they were not able to provide any earnings into the home. While they were protecting their land these people were not able to earn their professional salary using their selected specialist occupation. It had taken all of them such a long time to achieve their college degree and now they were in a scenario where they could not produce an income. So 8 of these qualified gentlemen met up and the PPS was established to safeguard against this loss of revenue in the event of sickness or injury. Of course it was particularly relevant during those times as they were in the middle of the Second World War. Had it not been for the warfare, perhaps the PPS would never have been established.
PPS is just open to individuals who have no less than a 4-year degree. High quality people such as doctors, lawyers, accountants, architects and the like are some of the fortunate few who are permitted to become a member of this mutually advantageous society. As Black Economic Empowerment was launched in South Africa to allow the black majority to participate in the development of the overall economy, the Professional Provident Society adjusted its composition to get the required numbers of black ownership. Due to this swift action, the PPS was one of the primary insurance companies identified by the Codes of Good Practice in the Department of Trade & Industry. This demonstrated their absolute dedication to be a true reflection of all the specialized graduates in our nation.
The benefits given to members of the PPS include the following: 1. access to a top range of excellent financial & investment products and services; 2.these particular services and products come with updated, modern guidance gathered from around the globe; 3. the products or services can also be specially tailored to meet the requirements and way of life of a qualified professional; 4. careful planning right from the beginning of your career that guarantees ongoing wealth and achievement; 5. the company is not listed on the stock exchange as it is solely owned by its members.
So, if you are a professional graduate, there is no question of your not signing up for this particular mutually beneficial society. With the advantages listed above, and more being offered by means of travel protection should you emigrate or work overseas, you just do not want to pass up an opportunity such as this. It is just compensation for long, hard years of learning.
For more information on PPS or PPS short term insurance, click the relevant link!