Dean is 36 years old, married and is a father to three children. When he and his wife purchased a second home, their mortgage broker raised the discussion about financial protection. With the purchasing of a second home, the financial risks were greater as their loan had gone from $200,000 to nearly $600,000.
Understanding how financially challenging it would be if something unexpected were to occur, Dean and his wife made a decision based on their personal situation and took out an ALI policy.
Dean was diagnosed with melanoma of the eye, a serious illness which brings with it a lot of treatment and monitoring for years to come. Within 15 days of Dean making a claim on his policy, the funds were received and available to be used wherever they needed.
“The claims process was seamless, communication was clear and the forms were easy to complete. We have used the money to basically pay the ongoing medical bills. Part of my treatment comes with pretty heavy ongoing costs, so we have put the money on the mortgage and we are redrawing it for bills and medical expenses as required”.
On top of this, Dean has been unable to work during these treatment periods.
“I have received a heap of radiation, which was absolutely horrible and PET scans and things like that, which will continue now every three months for the next five years”.
Dean is unsure how they would have managed financially had their mortgage broker not discussed ALI’s Policy.
“Truth be told, I was nearly going to cancel the policy because I wondered if we were ever really going to need it and then this happened and I just thought oh dear, you really never know when you’re going to need something like this. Now I believe all mortgage brokers should be discussing this with their clients”.
The current My Protection Plan product has been available since 5 April 2022. The above are examples of customers' claims paid on that product and similar products distributed by Australian Life Insurance Distribution ABN 31 103 157 811 (AFSL 226403). Any advice provided is general in nature and does not take into consideration your objective, financial situation or needs. You should consider these and the information in the Product Disclosure Statement (available along with the target market determination, from www.aligroup.com.au ), or speak to a financial advisor, before making a decision about our product. © ALI Group August 2022.