Your Society Highlights the Advantages of Mutuality
The Financial Services sector seems to be mired in scandal these days, from the miss-selling of PPI to excessive ‘fat cat’ bonuses for City bosses. At a time when the public is questioning who they can trust to look after their financial interests, PG Mutual has seen many people taking an alternative approach when selecting their financial services provider.
The benefits of owning a share in your insurer or bank are becoming much better recognised, highlighted by the surge in new membership enquiries experienced by PG Mutual, the income protection specialists for healthcare professionals. During the first six months of this year, 78% more people enquired about taking out cover compared with the same period in 2011.
“We know that being able to trust your insurer or bank is of paramount importance”, says Mike Perry, PG Mutual’s Chief Executive. “Mutuality makes all the difference, as the Society is solely driven by our members. Having no external shareholders to worry about means that members are at the heart of everything we do, and any surplus we make is returned to them. We paid 98% of all claims received in 2011, and our average member stays with us for twenty-two years; something of which we are very proud.”Go Back