Australian specialist insurance firm PPS Mutual, has rolled out a risk-only superannuation fund aimed at young professionals.
The PPS Mutual Super Fund will offer members the opportunity to fund a life insurance policy via a rollover from a standard superannuation fund.
PPS Mutual is aiming to reach out to younger medical, legal, accounting and engineering professionals, who are looking for a more flexible option to pay for insurance premiums.
Matthew Pilcher, director of proposition at PPS Mutual, said “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.
“When you purchase PPS Mutual insurance, you’re not just a customer, you’re a member.
“This means you have a real stake in the business and the profits generated by the products which is a differentiated proposition in the Australian market.”
