Maxine Farmer

Maxine genuinely cares about her clients and has been protecting them since 2008.

What made you decide to offer your clients loan protection?

I want to make sure that my clients have at least some form of cover in place – just in case anything happens to them. This is particularly important in the first home buyer market due to the high LVRs. My clients can lose the lot in this current market in WA and I would hate to see that happen. Having protection is therefore so vital to their overall financial position.

I had a client who shortly after purchasing her first home passed away in a car accident. Her partner was left to grieve with the added stress of a new mortgage, living on minimal wage. It’s stories like this that really drive me to make sure all my clients consider their need for protection.

How have you embedded LPP into your loan process?

I ensure I always discuss with every client during the initial loan application stage as this type of conversation fits well with the overall discussion. We are facilitating our clients being able to increase their debt, so we need to be discussing the importance of protecting themselves and ensuring they can repay that debt when the time comes. I highlight the importance of what getting sick really means to the client, what the potential outcome could be if they aren’t well protected.

What would you say to a colleague or broker considering offering their clients ALI loan protection?

In my opinion, it’s part of a broker’s role to ensure their clients are aware of the risks and offered some sort of protection when taking out a home loan. We’re putting them in debt for their future, so we need to ensure they have some cover to assist them in case their future plans do not work out.

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