Pharmaceutical & General, the specialist income
protection insurer for pharmacy and other healthcare professionals, has changed
its name to PG Mutual.
Mike Perry of PG Mutual says, “Pharmaceutical & General
is a friendly society established in 1928 for the benefit of its members. At a
time when the word trust is not always associated with financial institutions,
we feel it is right to promote that our mutuality makes us different – and we
believe, better. Our new name PG Mutual, reflects the fact that we are owned by
our members and exist solely to serve their needs.”
Mike Pery adds, “The question we are asking everyone is
‘Could you survive on £67.50 a week?’ because for most of us, state sickness
benefit is not enough to live on. People are now much more aware of their
financial priorities and the need to have adequate income protection cover in
place. They tell us that being able to rely on an income from the first day off
work because of illness is an important aspect of their professional lives,
especially as our cover lasts until they can resume their career; state benefit
stops if they can perform any work. Our mutual status means we do not make a
profit but return any surplus to members.”
Income protection insurance news: 12 March 2012
