1. Is there a class action against ALI Group?
Yes. Shine Lawyers have chosen to pursue a baseless class action against ALI Group and we will be strongly defending our services, products and reputation.
2. What are Shine Lawyers alleging?
The action makes allegations about the selling practices, product design and product value relating to ALI Group products offered and arranged by Aussie Home Loan brokers between 28 February 2018 and 29 February 2024.
3. What products does ALI Group offer?
ALI Group offered mortgage protection plans during the specified period issued by:
Hannover Life Re of Australasia Ltd (Mortgage Protection Plan)
Hannover Life Re of Australasia Ltd (My Protection Plan)
Zurich Australia Limited (My Protection Plan)
Full details of the terms and conditions of coverage are in Product Disclosure Statements and Policy Documents relevant to the product held. If you cannot locate these documents, please ask us and we will send you a copy.
4.Does ALI offer junk insurance?
No. ALI Group provides life insurance products with valuable benefits for Australian property owners. These products are not credit or junk insurance. ALI insurances have the following attributes:
Benefits are paid directly to the policy owner, their estate or their nominated beneficiary/ies (not to the lender).
Benefits can be used for any purpose the recipient chooses – this could be for mortgage repayments, living expenses, home renovations, holidays, or any other purpose at their sole discretion.
Premiums are not added to the loan amount but are payable monthly, fortnightly or weekly.
Cover amounts may be amended by the policy owner, or the policy may be cancelled, at any time.
Benefit amounts are not calculated by reference to any outstanding loan balance.
5. Do ALI Group’s products provide value?
Since ALI Group’s inception, benefits of over $168m have been paid to policy owners (or their estate or beneficiaries). Cover provided has varied depending upon the policy type and is typically made up of death and terminal illness benefits and trauma benefits and may include benefits for accidental injuries, specified injuries and involuntary loss of employment.
Full details of the terms and conditions of coverage are in the Product Disclosure Statement and Policy Document relevant to the product held. If you cannot locate this document, please ask us and we will send you a copy.
Benefits are paid directly to the ALI Group policy owner or their estate (depending on the benefit type). More recent ALI Group products may also provide for death benefits to be paid to nominated beneficiaries. All benefits can be used for any purpose the recipient chooses – this could be mortgage repayments or any other purpose.
6. Are there many customer complaints about ALI Group products or services?
No. Since the establishment of the Australian Financial Complaints Authority (AFCA) in 2018, less than 2% of all formal complaints have required any further action from ALI Group.
ALI Group is proud of the service and support we provide our clients.
7. Are ALI Group’s Mortgage Protection Plan or My Protection Plan income protection insurance?
No. Our My Protection Plan product is an optional life insurance and provides cover for trauma (17 defined serious medical conditions), death and terminal illness and specified injuries (fractures of a listed part of the body).
The Mortgage Protection Plan products is also optional life insurance, and some include a component of cover for involuntary loss of employment. That loss of employment component has never been income protection insurance.
Full details of the terms and conditions of coverage are in the Product Disclosure Statement and Policy Document relevant to the product. If you cannot locate these documents, please ask us and we will send you a copy.
To understand what income protection is, visit https://moneysmart.gov.au/how-life-insurance-works/income-protection-insurance.
8. Do ALI Group products provide cover for mortgage repayments?
ALI Group product benefits are paid directly to the policy owner, their estate or beneficiaries (depending on the product and benefit type) and can be used for any purpose the recipient chooses – this could be mortgage repayments, living expenses, home renovations, holidays or any other purpose.
9. Can ALI Group customers cancel their policy if they want to?
Yes. Policy holders can cancel their policy at any point in time.
ALI Group customers can also make changes to their benefit amounts (in line with the policy terms and conditions) at any point, for example if they decide they want to increase or reduce the amount of cover they initially took out.
10. How can I make changes or find out the details of my ALI Group policy?
You can visit www.aligroup.com.au/existing-customers/manage-your-policy to request details online, or you can also contact 1800 006 776 to speak directly with an ALI Client Care team member.
11. Where can I go for help with deciding what cover I need?
Please call our Customer Care team on 1800 006 776. They can provide you with more details about your policy and the cover it provides. If you need advice specific to your circumstances, you should speak with a financial adviser.
12. What happens if I need to make a claim?
To date, over $168m in benefits have been paid to ALI policyholders who have suffered loss of employment, accidents, serious illness, or worse. Many of these claimants have expressed their thanks to ALI and their mortgage broker for offering the policy.
As life events continue to impact policyholders, ALI will continue to pay more claims.
If you need to make claim, please call our Customer Care team on 1800 006 776.
We appreciate it might be a very stressful time for you. That's why we've made the process as straightforward as possible that you can read more about on our
How to Claim page.
13. ALI partnership with global insurers
Since inception ALI has partnered with national and global insurers listed below working closely with them to ensure our products are of value to customers.