As most of us know , PPS was founded in the early years of the Second World War , when a group of eight dentists formed a provident society . They would contribute to this society that would pay an income to those unfortunates among them who might lose the ability , due to sickness or accident , to generate an income .
The society was based on the principles of a dental society in the UK . That society still exists today , the Dentists ’ Provident , which was founded in 1908 by a group of … as in the case of PPS … eight dentists , for the simple purpose of providing mutual insurance against sickness and accidents to its members . It originated as a special type of society – a Holloway Friendly Society , based on the concepts set out by George Holloway , who in 1875 wrote a prize-winning essay on the best way in which working men could provide for times of sickness .
The concept is simple : members pool their resources to protect each other and any financial surplus is then shared between the participants . Even today , a small number of societies continue to provide their members with benefits using this principle , which has evolved in line with changing regulatory and member needs over the years . They are part of a unique group of insurers who are generally referred to as mutuals .
Most of the principles of the two organisations are still similar today , but unlike the Dentists ’ Provident , which after more than a century still only caters for dentists , PPS , of course , branched out to cater for other professionals as well .
The first to join were medical doctors , and later lawyers , accountants , engineers and many other professionals became eligible to become members . Over the years , each new profession that was
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