subject: What Is PPS Insurance? [print this page] What Is PPS Insurance?
If you have been doing all of your research, just like you should if you are searching for insurance, you might have run into the phrase PPS insurance. This article aims to explain just what PPS insurance really is and who is eligible to apply.
PPS stands for The Professional Provident Society of South Africa. They primarily market their products to the graduates of our nation. One of their products is insurance, hence PPS insurance.
Let us examine what PPS stands for - Professional Provident Society.
Firstly, we've got professional. This means that in order to qualify, you must be a professional. Being a professional entails having at least four years of tertiary education, so basically the equivalent of an honours degree. This means that their client base is very exclusive and they will tend to have a higher chance of making a successful career.
Next, we've got provident. So essentially, PPS insurance offers insurance coverage intended for professionals.
Lastly we've got society. This would suggest an organisation of some type. A society usually looks out for the well being of a particular selected group of people, in this case professionals.
So, what PPS insurance amounts to, in layman's terms, is actually a group of people which provide insurance and other financial and health care services for other individuals who have at least four years tertiary education and learning behind them.
Not too complicated is it?
PPS insurance can seem to be a bit more expensive than other kinds of insurance. This is because they are catering to a higher class of income earners. People who have a degree often earn more than those who do not have a degree. This means that they can often afford to pay a little more. Naturally, PPS insurance does offer more coverage and is often tailor made for the client, which means you are getting your money's worth if you manage to be eligible for PPS insurance.
So, is PPS insurance a good idea?
Most definitely. You get a wider selection of cover suited to your needs, yes it costs a little more than regular insurance, however the certainty of getting what you pay for is worth that extra little bit.
How do you qualify for PPS insurance? You have a four year degree behind your name. This appears extreme, but all they're doing is making sure that their customers are a cut above the rest and much more likely to be able to pay their premiums as soon as the time comes. This in turn means that a company which is affiliated to the Professional Provident Society of South Africa will probably be more financially secure than other insurance firms.
So if you are a professional and searching for a new insurance carrier, consider considering getting in contact with a PPS insurance company and really get what you are paying for with your insurance, it really is worthwhile.
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