PPS was founded way back in 1941.PPS short term insurance was designed to meet the needs of professional people.
The Professional Provident Society of South Africa was founded at the time of the Second World War. It was a time of death, sickness and illness due to World War II raging throughout the world.
Those who initiated the formation of PPS short term insurance were professionals such as doctors and dentists. They were concerned that they themselves may be injured during the course of their work resulting in them either being off from work for some time, or permanently. They were worried that if such a thing happened to them that they would have no means to support themselves or their families. Thus PPS short term insurance was formed to cover these professionals.
What is short term insurance?
There are basically two types of insurance policies available, short term insurance and long term insurance.People often fail to understand the difference between the two. Quite simply short term insurance is an insurance policy that you take out to cover anything happening to your possessions.
For example you may want to cover the contents of your house in case they are stolen or damaged due to a fire or flood. You will need to take out insurance on your vehicle in case you are involved in an accident, or your vehicle is stolen. Short term insurance companies take the risk in exchange for you paying them a monthly premium.
The premiums vary from company to company and you should shop around to get the best deal and cheaper car insurance.Any disputes arising between a client and one of the short term insurance companies such as Momentum short term insurance should be sent to the ombudsman for short term insurance for resolution.
Long term insurance is an insurance policy that you take out to cover anything happening to you as a person.Life insurance is an example of long term insurance. Just because you take out building insurance on your house for a period of twenty years for instance, it does not mean that it is long term insurance. You are covering a possession not a person. Therefore, irrespective of the length of the policy, as it is covering a possession rather than a person then it falls into the category of short term insurance.
Who can use PPS short term insurance?
PPS short term insurance is only available to a certain type of professional. If you are studying to become a professional in one of these categories you may also become a member of PPS short term insurance once in your fourth year of your professional degree. In a way it is similar to a restricted medical scheme where only certain people are allowed to join the medical scheme.
Professions eligible to use PPS short term insurance include Surgeons, Dentists, Radiologists, Attorneys and Pharmacists. This is by no means an extensive list of the professions allowed to join and use PPS short term insurance. For more information on who can take out PPS short term insurance you may contact them online and complete their online form.You are also able to get insurance quotes by completing and submitting their form online.
More about PPS
PPS short term insurance is owned by its members. Because of this they will always try to provide the lowest car insurance for their members and competitive and cheaper insurancefor all the other products they offer their members. At the end of the year any profits are divided among the members of PPS short term insurance.
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