PPS Mutual is set to launch the PPS Mutual Super Fund, which will allow the company to offer a complete life insurance solution for eligible professionals through an accredited adviser.
The Super Fund will allow members to fund their insurance premiums via rollover from their standard accumulation super fund.
Director of proposition at PPS Mutual Matthew Pilcher said the fund approach had been requested by younger graduate medical, legal, accounting and engineering professionals.
“We are thrilled to announce the launch of our highly anticipated Super Fund as it now allows us to offer a complete life insurance solution for eligible professionals,” he said.
The fund also offered flexibility for advisers who wanted to offer clients the option to pay premiums through super.
“The launch of the fund is an important step in allowing us to bring the mutual model to a wider selection of adviser clients and offer Australian professionals a radical reappraisal of how life insurance can work,” Mr Pilcher said.
PPS Mutual has appointed Sargon, a financial technology and infrastructure company, as a trustee.
“Sargon is helping PPS Mutual navigate the complex and changing regulatory environment so we’re able to offer the best possible solution to our clients,” said Mr Pilcher.
“We’ve chosen to partner with Sargon because of their strong compliance culture. Through the services they provide, we have more time to focus on our advisers and their clients.”
Maybe PPS should read the Labor Party Super Pol Doc. Tax deductions for supported employees will be out under Bill. And you can bet the industry funds will want to stop RO out of their funds to pay for insurance with retail providers
Would be great if they ever called back advisers who might wish to use their product…
Most of the insurance companies have offered this for years now, rollover from external fund to fund premiums. What is new about this?