PG Mutual

Start a new
Quick Quote

Call us today
0800 146 307

About PG Mutual

Income protection that gives back to its policyholders

Before you consider parting with your cash, it’s understandable that you might want to know more about who we are and what we do. That’s absolutely fine with us. We have been providing income protection cover for ambitious professionals since way back in 1928 - and there are a lot of things that make us different from the run-of-the-mill insurers you might be used to. Allow us to explain...

We are a mutual society. That’s good news for you.

We are what’s known as a mutual or friendly society. Essentially it means we are a not-for-profit business. Without external stakeholders, our profits go back to the people who matter: our policyholders. When you take out a plan with us, your plan includes a unique investment element that aims to pay you a lump sum at the maturity of your policy. Once you decide to leave PG Mutual and your policy matures, you will receive a lump sum payment - tax-free under current legislation - based on the number of years you have spent with us. So not only do you protect your income on a day-to-day basis, as a PG Mutual policyholder you get to save for your future too.

Protecting pharmacists since the discovery of penicillin

PG Mutual started out back in 1928 - the year Alexander Fleming discovered penicillin and changed medicine forever. Back then we were called Pharmaceutical & General Provident Society - an income protection society started by pharmacists, for pharmacists. The idea was simple. Each member added money into a pot that any member could withdraw from to support themselves and their families if they fell ill or had an accident.

Today the idea is essentially the same. As a PG Mutual policyholder you pay a small monthly premium and if you are unable to work through injury or illness, you can claim for up to 70% of your income (or £1,200 per week, whichever is less) until you are well enough to return to work (or you reach age 65). The only difference from those days of yore is that today you don’t have to be a pharmacist to benefit from our policies, so don’t fret about buying a lab coat. We’re stronger together.

Why choose PG Mutual?

As a mutual society, the ethos of putting our policyholders first is part of what makes us who we are. That’s more than just lip service. We really do try to provide the very best service possible for our customers - just as you should expect when you pay a monthly premium for a service. And of course we are authorised by the Prudential Regulation Authority as well as fully regulated by the Financial Conduct Authority and Prudential Regulation Authority.

  • Between 2015 and 2017 we paid out on 98% of claims, totally £1.44 million
  • No penalties, excess payments or premium hikes if you make a claim
  • Unlimited claims for the duration of your policy
  • Simple claims process with some claims paid within 24 hours

Exclusive benefits for policyholders only...

On top of great service and a lump sum payment at the maturity of your policy, there are other benefits of joining PG Mutual. You can get discounts or cashback deals with a range of popular brands. Those names include Currys PC World, Virgin Active and Marks & Spencer. So whether you want to treat yourself to the latest and most fashionable tech gadgets, or are keen to build towards your fitness goals, we can help you do it for less.

So now you know a bit more about us. Find out more about our income protection plan.

An estimated 137.3 million working days were lost due to sickness or injury in the UK in 2016.

March 2017