Life events and loan serviceability
Everyday life events can impact your ability to meet your loan repayments.
As part of responsible lending, I have a duty to ensure you have the capacity to service your loan without undue hardship.
I take this obligation seriously. It’s about protecting your way of life.
It’s important that you consider how you would meet your loan repayments if you lost your job or suffered a serious injury, illness or even death. Would you:
- Use savings
- Use super
- Family would assist
- Rely on partner’s income
- Sell home or other assets
- Not sure?
What is Loan Protection?
Part of our service is to ensure our clients are aware of their loan protection options and as an accredited ALI Group loan consultant I will raise this with you. It is important that you take time to evaluate your circumstances as many people can be left exposed to unnecessary risk.
ALI Group’s Loan Protection Plan is designed to help ensure your family; home and your lifestyle are protected in the event you are unable to service your loan repayments.
Below illustrates the key benefits of Loan Protection Plan, a possible solution to your protection needs:
Who is ALI Group?
Established in 2003, ALI Group is a specialist risk insurance business committed to ensuring I am able to provide you with convenient and timely access to affordable loan protection.
ALI Group delivers quality products that are easy to understand, obtain and claim upon, by means of a simple offer process that allows you to make an informed decision on your need for protection.
ALI Group’s Customer Service Centre is there to help answer any questions or requests regarding your policy. Their in-house claims team will assist you through all stages of the claims process should you need to make a claim and will ensure any valid claims are paid to you by the insurer.
If you would like more information about ALI Group and to hear case studies from ALI customers go to www.aligroup.com.au
Licensee: This information has been prepared by Australian Life Insurance Distribution Pty Limited, ABN 31 1031 57811. This company is the holder of an Australian Financial Services License (AFSL 226 403). Your loan consultant is acting as an authorised representative of the licensee in offering to arrange for you to obtain cover.
General Advice: Where advice has been provided in this material, it has been given without taking into account your objectives, financial situation and needs. Before acting on this advice you should consider its appropriateness having regard to these matters. Your loan consultant does not provide you with advice in connection with Loan Protection or your insurance needs beyond providing this information to you.
Product Information: Loan Protection Plan is issued by MetLife Insurance Limited (ABN 75 004 274 882) (AFSL 238 096) and ACE Insurance Limited (ABN 23 001 642 020) (AFSL 239 687). The product information provided a summary of the features, benefits and exclusions of these products. For more detailed information you can obtain a copy of the Short Form Product Disclosure Statement for these products from your loan consultant. This should be considered when deciding to acquire the product.
Sources: 1.ABS Statistics | 2 The LIFEWISE / NATSEM Underinsurance Report February 2010 | 3. Cancer Council: Cancer in Australia: an overview, 2008 Australian Institute of Health and Welfare (published December 2008)