Loan Protection Plan
Loan Protection Plan provides cover for your loan amount should you die or become terminally ill and a living benefit should you suffer from any one of eleven serious medical conditions, such as cancer, heart attack or a stroke. The benefit can be used for any purpose including paying off or reducing your mortgage.

A death benefit is paid upon the death of the insured person.

A terminal illness benefit is paid if the insured person suffers a terminal illness or injury and as a result has a life expectancy of less than 12 months. The amount of the terminal illness benefit is the same as the death benefit.

A living benefit is paid if the insured person is diagnosed with any one of 11 specified serious medical conditions.
The conditions covered are:
• Cancer	• Heart attack
• Stroke	• Coronary artery bypass surgery
• Alzheimer’s disease – dementia	• Kidney failure
• Loss of independent existence	• Paralysis
• Severe burns	• Total loss of hearing
• Total loss of sight

Cover is flexible and you can tailor the cover by varying the benefit levels. Cover is provided for death or terminal illness up to the age of 99 and the living benefit is available up to age 65.

Details are contained in the Product Disclosure Statement. You can obtain a copy of the Product Disclosure Statement from your mortgage broker or you can download a copy by clicking this link. LPP Short Form Product Disclosure Statement. This should be considered when deciding whether to acquire the product.

Use this calculator to see how much cover will cost you and to see how altering the benefit amount will alter your premiums. Click Here

Three months free cover
So that you don’t feel pressured and have time to consider your options whilst covered, your will receive a three months free cover period before premiums commence. There’s no downside; if you choose not to continue the cover within the first three months, you will not have to pay anything.

You can have confidence in the cover. Rice Warner, a leading independent actuarial consulting company reviewed a number of mortgage protection products from leading companies and concluded that: "Based on pricing and features, ALI's Loan Protection Plan provides good value death, terminal illness and trauma benefits when compared to a range of competing products."

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