PPS Mutual\u2019s profit-share pool has reached $15m for the 2024-25 financial year. Almost $4m has been allocated to its members this financial year, marking the ninth consecutive year of its profit-share arrangement.<\/p>\n
The mutual’s adviser network is also benefiting from the profit-share model, states CEO Michael Pillemer<\/strong>, with three advice firms managing more than $1m in client profit-share balances, seven firms above $500,000, and 31 advisers each with clients whose combined balances exceed $100,000.<\/p>\n
\u201cThis growing depth of engagement is reflected in PPS Mutual\u2019s industry-leading retention,\u201d said Pillemer. \u201cThe company\u2019s annual lapse rate sits at just 5.1%. in 2024-25, compared to an industry average of 14.1%.<\/p>\n
The profit-share pool has grown almost sixfold in just five years…<\/p><\/blockquote>\n
\u201cThat level of loyalty shows the deep trust members place in PPS Mutual and highlights the strong alignment of interests that only a mutual model can deliver.\u201d<\/p>\n
Pillemer said the organisation\u2019s aim is to show that life insurance can be more than protection.<\/p>\nPPS Mutual CEO, Michael Pillemer…Building loyalty with profit share scheme.<\/figcaption><\/figure>\n
Since its inception in 2016, the organisation has consistently shared profits with members each year. In the past 12 months alone, the pool grew by 31%.<\/p>\n
PPS Mutual is unique in the Australian life insurance market, combining mutuality with its profit-share model.<\/p>\n
Under this model, premiums are pooled to meet claims, operational expenses and future capital reserves, with remaining surplus distributed back to members.<\/p>\n
For 2024\u201325, the allocation equated to 3.5% of premiums, together with a 5% interest credit to member account balances.<\/p>\n
Pillemer said: \u201cThe profit-share pool has grown almost sixfold in just five years. That trajectory shows how powerful this model can be in building lasting value for members over their entire professional lives.\u201d<\/p>\n
Pillemer said more than 100 members have now accrued more than $10,000, 17 have exceeded $20,000, and nearly 400 hold balances above $5,000.<\/p>\n
PPS Mutual\u2019s life insurance products are available through accredited independent financial advisers. Members must retain their policies for 10 years to gain partial access to their profit-share funds, with withdrawals of up to 5% of the balance permitted each year. Full access is granted after 20 years, when members reach age 65, or in the event of death, terminal illness or certain other conditions.<\/p>\n","protected":false},"excerpt":{"rendered":"
PPS Mutual\u2019s profit-share pool has reached $15m for the 2024-25 financial year. Almost $4m has been allocated to its members this financial year, marking the ninth consecutive year of its profit-share arrangement. The mutual’s adviser network is also benefiting from the profit-share model, states CEO Michael Pillemer, with three advice firms managing more than $1m […]<\/p>\n","protected":false},"author":23,"featured_media":79703,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,5622],"tags":[],"class_list":["post-79700","post","type-post","status-publish","format-standard","has-post-thumbnail","category-company-news","category-superannuation"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/79700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=79700"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/79700\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/79703"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=79700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=79700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=79700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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