Our Profit Share Benefit
Our unique Profit Share Benefit allows members to share in the long-term financial success of the business. To become a member of PPS Mutual, you must be a life insured under a Professionals’ Choice policy and meet the membership eligibility criteria applied by PPS Mutual at the time you choose to join.
How does the Profit Share Benefit Work?
When you join PPS Mutual as a member by meeting the eligibility requirements and completing the required AML / CFT checks, you receive the Profit Share Benefit. There is no additional premium required. Each year, the Board of PPS Mutual may exercise its discretion to make a Profit Share Benefit allocation to members based on the financial performance of the PPS Mutual business, investment earnings on assets supporting Profit Share Benefits, and the capital needs of the business.
Profit Share Benefit allocations are discretionary and expected to change over time. Allocations may be positive, nil, or negative, which means that your Profit Share Benefit may change after each allocation is made.
Your Profit Share Benefit is paid if you die, become terminally ill, or after you reach age 65.
If you cancel your PPS Mutual insurance policy, your Profit Share Benefit may be reallocated to other PPS Mutual members unless you have been a member for at least five years and your Profit Share Benefit exceeds $1,000.
To find out more about how our Profit Share Benefit works, please read the Profit Share Benefit Member Information Sheet and the Multiple Life Policy linked below.
When do allocations commence?
PPS Mutual intends to start making Profit Share Benefit allocations from March 2027 based on the long-term outlook of future profits and PPS Mutual’s capital needs.