FOCUS: PG Mutual
9 October 2020
We catch up with PG Mutual, sponsors of the AOP Awards 2020, Still Life & Object category. With recent events our sense of security has been heightened to say the least, read on to find out how PG Mutual can offer some assurances and security against illness or injury.
© Richard Seymour. AOP Awards 2020 finalist. Still Life & Object category.
Can you tell us about the services you offer for professional photographers and related creative industries?
At PG Mutual, we offer comprehensive, flexible Income Protection Plus insurance to self-employed and employed photographers and creative industry professionals. If you were then unable to work, whether short-term or long-term, we could provide you with a replacement income until you sufficiently recover or reach age 65, whichever comes first.
Any profits we make go back to our members annually through our Profit Share Scheme. This means the longer you stay with us, the more substantial your potential payment could be at the maturity of your policy, whether you claim or not. In fact, since 2018, we have paid over £2 million to our departing members!
Have you experienced an increase of interest for your products since the pandemic outbreak?
The last few months have really shown that illness or injury can strike at any time. It has made us all question our personal security and to re-evaluate the protection we have in place. We did have a surge of interest in Income Protection Plus in March and the following months. We were pleased to see more people considering income protection and the security it has to offer against illness and injury. People appear to now be bunkering down given the current economic uncertainties, but we would still strongly urge people learn the most important long-term lesson of this pandemic; that we can all succumb to illness, and that without income protection our financial security can be quickly compromised.
© Derek Seaward. AOP Awards 2020 finalist. Still Life & Object category.
What would you tell anyone considering looking for income protection?
We would encourage you to really consider what would happen to you, your business and your family if unexpected illness or injury did strike. How long would you manage if you weren’t able to earn? Would you need to rely on savings? Many that we have spoken to feel that the government support, however, if you qualify, Statutory Sick Pay (SSP) may offer basic support for a limited period. If you're entitled to Employment Support Allowance (ESA), you'll have to wait a minimum of 13 weeks to have your claim assessed for eligibility. In either case, the amounts you may claim are unlikely to cover your full outgoings.
We want to take away this risk for our members and give them peace of mind that, if they couldn’t work due to illness or injury, they would receive a replacement income, allowing them to focus on recovery instead of all of how expenses will be covered. What’s more, our plan allows you the ability to tailor your cover to best suit you. You can choose how much income benefit you would need per month, your claim deferment period, and much more, making your policy suitable to your specific needs.
© Hugh Johnson. AOP Awards 2020 finalist. Still Life & Object category.
Why is it important to PG Mutual to support the AOP Photography Awards?
The values of the AOP align with PG Mutual’s when it comes to supporting members, and that’s why we are happy to be partners. We want to support the AOP and with the AOP Photography Awards being a significant moment for members annually, we are thrilled to be able to sponsor this event.
What’s next for PG Mutual?
We plan to maintain our high standard of service to our current members so that we are there for them when they need us most - when they need to make a claim and the vulnerability of that time. We are also looking to source new benefits for our membership so that they receive further value from their policy, and we will continue to raise awareness of Income Protection Plus for those that are looking for comprehensive ways to protect themselves against unexpected illness and injury.