What is a mutual?

This is not an insurance policy.

We do not make money for investors, shareholders or pay sales commissions. Education Mutual is a tax efficient way of resourcing your staff absence protection and caring for employee health and well-being. All members pay their contributions into the mutual which is used to pay absence claims and support the healthcare of school employees.

The mutual philosophy is built on a sense of ownership, belonging and having a say and trusting those sharing a very similar journey. As a mutual is owned by you, their members (schools and academies), there is no obligation to shareholders, a mutual is free to focus entirely upon their customers’ needs.

From a regulatory perspective a discretionary mutual is significantly lower cost to run, whilst for policyholders, cover is not subject to Insurance Premium Tax (which is currently levied at 12% of premiums on insurance contracts).

Being a discretionary mutual we do not need to be regulated by the FCA. We are a member of AFM, the Association of Financial Mutual’s to ensure we follow correct corporate governance.