Home Loan Protection: ALI Group or a Bank?

Firstly, ALI Loan Protection Plan has three types of benefits which are bundled in one policy. This could provide a financial safety net in the event of the following types of life events:

1 - In the case of death or terminal illness, your estate could receive a minimum of $50,000 and a maximum of $750,000 (depending on your policy specifics).

2 - When dealing with any of our listed 11 medical conditions, you could receive a living benefit up to 50% of the death and terminal illness benefit^. For example, if you had a Death and Terminal Illness Benefit of $300,000, you could receive a Living Benefit of up to $150 000.

3 - If you become involuntarily unemployed in the first five years of your policy you could be eligible to a benefit for up to $2,500 per month for up to three months to help you get back on your feet.

We’ve developed our Loan Protection Plan with home and property buyers in mind, and unlike other bank protection products, your policy with ALI Group isn’t linked to your home loan. If you decide to change your lender, you’ll remain financially protected for the duration of your policy. And since it’s not tied to the loan, your cover keeps going even if your loan stops or you pay it off.

In addition to this, and unlike many banks, ALI pays you (or your estate) your financial benefit, not your lender. This gives you and your family the financial freedom to use your home loan protection benefit as you see fit. 

We believe in helping as many homeowners as we can to stay financially protected against the challenges that life can present from time to time. 

That’s why you’re automatically eligible for cover with ALI if you’re an Australian or New Zealand citizen or permanent resident residing in Australia, aged between 18-59 years old who has applied for a home loan or loan increase in the last 12 months. There are also no medicals or health questions required.

With our Loan Protection Plan, you aren’t required to fill out lengthy forms when you need to claim because we want to make things as straightforward as possible. 

Our experienced team is here to maintain one-to-one contact should you need their help and we’ll keep you fully informed at every stage of your claim. 

Additionally, with our home loan protection, you have the flexibility to adjust your cover to suit your budget and align your premium payments with your pay cycle or loan repayments. Another great benefit is that we’ll also provide you with 30 days of complimentary cover to give you time to check details and make sure Loan Protection Plan meets your needs. 

Ready to get started with your home loan protection? Speak to one of our ALI mortgage brokers today,.