MUTUal INTEREST WE RE NEW HERE S THE PLAN. changing When? Why? How? WEBSITE is now live! OFFER. Member Referral

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1 MUTUal INTEREST Spring 2012 Income Protection Application Pack HERE S THE PLAN Keyfacts Our initial disclosure document about our services and how we are regulated Key Features The main aspects of our Income Protection Plan Application Form To be completed when applying for Membership Your Guide to Tele-Interviews Policy Document WE RE changing When? Why? How? Answering member queries Paying for cover in a tax-efficient way Member Referral OFFER NEW WEBSITE is now live!

2 Registered office: 11 Parkway, Porters Wood, St Albans, Hertfordshire AL3 6PA Incorporated in the United Kingdom under the Friendly Societies Act Authorised and regulated by the Financial Services Authority, Registered Number WE RE changing Pharmaceutical & General Provident Society becomes PG Mutual We are pleased to announce that as of 1 March 2012, we are known as PG Mutual. The modernisation of our name acknowledges the value we place on having a wider appeal across all healthcare professions. With increasing public awareness that the Government sickness benefit eligibility is being out on maturity of your policy. first day of illness or injury to your professional career reviewed, we have found the use of a direct call question Could you survive on 67.50* a week? visit resonates with anyone who is concerned about paying their rent or mortgage, being able to feed their family or to just fill up their car. PG Mutual s Income Protection Insurance is in high demand, especially from optometrists and vets as well as pharmacy professionals, with new membership figures up by over 40% year on year. Our new name also reflects the fact that we are very proud to be a Mutual, member-driven Friendly Society. Mutual status means our management team can take decisions which are driven by the long-term needs of our policyholders and not short-term shareholder-led targets. Being owned by members, our internal processes are focused on what they tell us matters to them; for example, paying valid claims promptly and efficiently. We are highly solvent, and invest in our staff and systems to ensure excellent levels of customer service. The new brand conveys the message to all healthcare professionals that having adequate Income Protection Cover is an essential part of financial planning. We believe it is vital that people are aware there is a Friendly Society dedicated to serving their needs; and that our cover can start from the first day of illness or injury until they can resume their professional career. You will see a lot more of PG Mutual in the future; please look out for us at healthcare events our team is always pleased when members introduce themselves! *Employment Support Allowance is a week; DWP website March 2012 COULD YOU SURVIVE ON JUST 67.50* A WEEK? *Employment Support Allowance is a week. DWP website, January PG Mutual offers an Income Protection Plan which pays you a regular income if you can t work due to illness or injury and includes an investment element that pays Protection that can start from your Cover lasts until you can return No penalty for making a claim info@pgmutual.co.uk QUESTION The more people who join the Society, the more revenue we receive. This helps our economies of scale and contributes to a larger surplus per head, meaning we save more for our members futures. Everyone benefits; as we are a not-for-profit organisation, any surplus is paid back to our policyholders. Will there be changes to my PG Mutual cover? Your cover is not affected at all, and Holloway Income Protection Insurance will remain our core focus. Will the price change? No, you can rest assured that this doesn t affect our subscription rates. Is my investment element safe? The investment we build up for each member is unaffected and continues to be protected under the Financial Services Compensation Scheme. Will I see any other changes? TIME How does the change to PG Mutual benefit me as a member? The style of our branding is changing to promote a consistent message. A new, improved website was launched on 1 March 2012 offering a onestop-shop to access all our services, along with product information. Will the Member Referral Offer continue? Very much so our Member Referral Offer has proven extremely popular, with members receiving 100 in M&S vouchers every time they successfully recommend a new member. The offer applies to applications received by 31 May

3 BREAKING NEWS: PG MUTUAL MEMBERS TO BENEFIT FROM NEW PARTNERSHIP We are delighted to announce we have partnered with Medical Insurance Agency (MIA) to create PG Mutual Financial Services. The partnership with MIA, a trading division of Skipton Financial Services (SFS), gives PG Mutual members access to tailored financial advice on how to make the most of their money. SFS (a wholly-owned subsidiary of Skipton Building Society) is a whole of market financial adviser; meaning it is not tied to any provider, and can recommend products from across the marketplace. SFS specialises in advising on investment, pension and inheritance tax planning for people of all ages. For more information on MIA s no-obligation financial review service, please read the enclosed brochure or call THE tax-efficient WAY TO PAY Many members are concerned about paying for their cover in the most tax-efficient way. If your business is a limited company, then it is likely that you will be able to treat your income protection subscriptions as a business expense. Speak to your accountant to see if you can keep money in your business, rather than paying it to the taxman. Please note, the benefits we pay and the investment we build up for the maturity of your policy are usually tax-free under current legislation. Put PG Mutual Home Insurance to the test The start of a new Tax Year is an opportunity to re-evaluate our finances; conducting an income and expenditure exercise can be a useful way to see where savings could be made. PG Mutual has teamed up with Safe&Secure Insurance to launch Home Cover for our members. Safe&Secure usually delivers over 50 worth of savings for a typical customer, and has been recognised as the UK s Number One Home Insurance Broker.* We are delighted to be partnering with Safe&Secure and recommend you put them to the test by visiting. *Mortgage Strategy Awards OUR NEW WEBSITE Members can now view our new website, The new site is designed to be easy to use, with tab bars along the top of the page to help people find what they need, quickly. Members can download our Claim Form, Direct Debit Mandate or the Cover Variation Form, as well as being able to access information about the Society and the cover we provide. It also features a Quick Quote system please encourage your colleagues, friends and family to try it. The team is working on more web developments to help members access our services 24/7, so please keep checking the site. Have you given us your current address? You can share in our e-newsletter, which will provide monthly news from PG Mutual, along with our latest offers. Just info@pgmutual.co.uk with your name and a contact telephone number. Your contact information will not be shared with third parties. Are you looking for a Commercial Loan or a Buy to Let Mortgage? A new online Buy to Let Mortgage and Commercial Mortgage Broking Service is now available for PG Mutual members. The Buy to Let Mortgage Service includes a free online mortgage finder. It enables members who are looking to purchase a residential property for letting, to compare products from the whole of the market. The Commercial Loans Service specifically caters for pharmacists, opticians and vets who are looking to purchase or refinance practice premises, with up to 100% funding available. Mike Perry, Chief Executive Officer, said, We are delighted to launch our new online Buy to Let and Commercial Loan Services. The Income Protection Service that we provide to healthcare professionals has been very successful and we are now looking at ways to broaden our product range to offer more to our members. As financially mature professionals, our members may consider buy to let property investment as a supplement to their pensions for retirement. The online Buy to Let Mortgage Service aims to provide members with the most competitive buy to let mortgages on the market, whilst helping them choose a product to suit their individual requirements. For more information, please visit Benefits of using this service include: Indicative lending terms, usually available within 24 hours. Confidence that our service aims to find the best possible terms from across the commercial market. Access to funding packages that is not always available directly, such as interest-only for whole mortgage term, 100% financing for commercial loans, unsecured and short leasehold funding, subject to your individual circumstances and requirements. 4 5

4 PG Mutual appoints Stephen Schofield as a Sales Manager PG Mutual is delighted to announce the appointment of Stephen Schofield as a Sales Manager. Stephen has taken responsibility for the North of England, Scotland, Wales and Northern Ireland. He is working alongside Joe Joyce, who is focussing on looking after PG Mutual members and supporting key partners across the Midlands, Central and Southern England. Chief Executive Officer, Mike Perry, said, We re very pleased that Stephen has chosen to join us at this exciting stage in the Society s growth PG Mutual has posted record new membership figures recently. Stephen brings nearly twenty years experience of working in financial services, combined with commercial acumen and a strong enthusiasm for the Mutual sector in particular. He will help us to enhance the high levels of recognition that we already enjoy within the pharmacy, optometry and veterinary professions as the go-to income protection provider. Stephen commented, I m happy to be joining the team at PG Mutual, a Friendly Society whose success is based on putting its members first. It s a great time to be promoting Mutuality. I believe the British public is increasingly aware of the advantages offered by organisations which exist to serve their members instead of making a profit out of them for outside shareholders. PG Mutual s products are designed to meet the needs of healthcare professionals, backed by great customer service; I look forward to helping many more people benefit from membership of the Society. We don t just protect your Income Refer a new member to PG Mutual, and we will send you 100 of M&S vouchers Plus 25% off the first year s cover for the person you introduce.* As a member, we want you to share the good news about what we do and we also want to reward you for your support. That s why we are offering existing members 100 in M&S vouchers for every successful new member referral, as well as a 25% discount on the first year s cover for the new member that you introduce.* Whether you are a practice manager looking to reward your staff, or you have friends and family who need to protect their income; our offer ensures great rewards for both existing and new PG Mutual members. If you would like to make a referral, simply: call info@pgmutual.co.uk or complete and scan or post this page to: PG Mutual, 11 Parkway, Porters Wood, St Albans, we like to reward our members too YOUR DETAILS PG Mutual Member Number: *Offer Terms and Conditions: Applies only to referrals received by PG Mutual before 31 May 2012 to be eligible for 100 of M&S vouchers; the applicant has not previously been a member of, or been known to, PG Mutual; the person you introduce must be admitted as a member of PG Mutual and completes the 30-day cooling off period. Excludes cover uplifts, and those applying for either our Pre-Registration or Essential cover. Please note Hertfordshire AL3 6PA that the 25% discount applies to the first year of cover only, 6 and cannot be used in conjunction with any other offer. 7 YOUR REFERRAL 1 Title: Date of Birth: Contact Number: Home Postcode: YOUR REFERRAL 2 Title: Date of Birth: Contact Number: Home Postcode:

5 Tel: Fax: PG Mutual is the trading name of Pharmaceutical & General Provident Society Ltd. Registered office: 11 Parkway, Porters Wood, St Albans, Hertfordshire AL3 6PA Incorporated in the United Kingdom under the Friendly Societies Act 1992, Registered Number 462F. Authorised and regulated by the Financial Services Authority, Registered Number