Huy Truong

ALI Group, the leading provider of loan protection insurance to the broking industry that covers Australian home owners from financial hardship, has announced enhancements to its core product offered by brokers, Loan Protection Plan.

The enhancements will provide brokers with an improved solution to protect their clients, and are based on feedback ALI Group received from national focus groups it held in 2016 with hundreds of brokers within its network, as well as a survey of Australian home owners.

The biggest change is extended cover for Involuntary Unemployment; home owners taking out ALI Group’s Loan Protection Plan can now be covered for the first five years of their policy without an increase in premiums. Previously, this cover period was for the first 12 months of the policy only.

Huy Truong, CEO of ALI Group, says: “We are committed to improving our offering ongoing to better meet the needs of brokers and their clients. As a result, we are continuously seeking ways to increase the value of our Loan Protection Plan, with improved cover whilst maintaining the affordability of our premiums for the everyday Australian.

In the month to September 2016 alone, 53,000 full-time positions were lost in Australia1. That coupled with our very own claims experience compelled us to increase the Involuntary Unemployment cover period so home buyers can have more opportunities to claim and benefit from Loan Protection Plan. With this is mind, we expect claims to increase five-fold,” he says.

Additionally, ALI Group has introduced an optional Accidental Injury Benefit, which provides up to three months of cover for disabling injuries that prohibit a person from working for more than 30 days.

As a sign of the times, ALI Group has also refreshed its brand and updated its tagline to ‘protecting home and property buyers’.
Huy says: “Our mission to protect Australian home and property buyers burns deeply within all of us at ALI Group and we felt that our branding needed to evolve to better reflect this. By updating our tagline to focus on the actual home buyer, and truly put them at the heart of everything we do.

ALI Group’s enhanced Loan Protection Plan is available now.

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