How to keep your home even if you lose your health or your job!
As your broker, it’s our responsibility to not only help you find the right loan, but also to help make sure you’re able to service it.
That’s because everyday life events can and do impact people’s ability to make their repayments.
For instance, do you know how you – or your family – would meet your repayments if you suffered a serious injury, illness, or even death?
What about if you lost your job?
Nobody likes to think about it…
Unfortunately, 60% of Australians believe they’d need to sell an asset within three months of losing their income (1). So it’s something that can’t be ignored.
The good news is we may be able to help.
LOAN PROTECTION PLAN – a simple solution
A Loan Protection Plan is an insurance product that may provide affordable protection for you and your family. It’s designed specifically for home and property buyers and it’s available through our partner, ALI Group.
What’s so good about the ALI Loan Protection Plan is that it covers you for 11 serious illnesses (something most super insurance don’t offer), involuntary unemployment for the first 5 years, as well as death and terminal illness. You don’t need a medical to get the cover either.
And one more very important thing. In the event of a payout, the money is paid to you, not your lender.
The benefits are all yours
This means unlike most other insurance cover, you get to choose how the money’s spent. It doesn’t have to go on the mortgage if you think you’d rather spend it somewhere else – for instance on urgent medical expenses. Even a holiday. It’s your call.
The real-world benefits
Meet Paul. He’s a husband and father to four children. In 2014 Paul was diagnosed with Oesophageal cancer. Thankfully Paul’s broker offered him Loan Protection Plan which made his life a little easier following the diagnosis. Watch his story.
Covering yourself and your family with mortgage protection is easy and quick. Ask us about mortgage protection when discussing your loan requirements.
Where to from here…
If you’re currently applying for finance with us there is nothing to do, except to read this page and watch the video. Your Urbantech Finance Broker will have a chat to you about Loan Protection Plan as part of the process of organising your loan. Rest assured there’s no hard sell and certainly no obligation to take up this insurance but we do strongly advise you carefully consider your options to see if it is right for you.
If you’re not in the midst of applying for a loan but want to get cover for your existing loans, don’t worry we can still help – simply call or email us and we can provide you with more details and a free no-obligation quote.
To learn more about loan protection please visit our Loan Protection Plan FAQs or call us on 08 8451 1500
Sam, Matt & Andy
Adelaide Mortgage Brokers plus a lot more…
PS. We can also assist you with Home & Contents Insurance and Landlords Insurance via our partners ALI Group and QBE, so now you can get cover you need at a price you can afford. For all details click here
This information has been prepared by Australian Life Insurance Distribution Pty Limited (ABN 31 1031 57811) which holds an Australian Financial Services License (AFSL 226 403). Your loan consultant is acting as an authorised representative of the licensee in offering to arrange for you to obtain cover.
Loan Protection Plan is issued by Hannover Life Re of Australasia Ltd ABN 37 062 395 484 (Death, Terminal Illness, Living and Accidental Injury Benefits) and QBE Insurance (Australia) Limited ABN 78 003 191 035, (AFSL 239545) (Involuntary Unemployment Benefit). ALI receives commission and your loan consultant may receive commission for each policy sold. Please refer to the FSG available from your loan consultant for more information about our remuneration. Any advice provided is of a general nature only and does not take into consideration your objectives, financial situation or needs. You should consider the Product Disclosure Statement (available at www.aligroup.com.au) when deciding if this product is appropriate for you.
Sources: 1 Zurich (Feb 2014). Research whitepaper: Australians and life insurance: misinformed, misinsured?