Lo Document Life Insurance

Loans Australia is licensed to provide an outstanding opportunity for its clients in addition to obtaining a mortgage. At the time of applying for a home loan, clients of Loans Australia are automatically qualified to receive 3 months of free life insurance (subject to insurer's approval) with built in trauma living benefits cover. The cover is limited to the loan amount and is not linked to the mortgage. It is totally separate to the mortgage and the premiums are not added to the loan repayments. If the cover is paid out, the sum insured is paid to the joint borrower or your estate, not directly to the financier. It is then up to the joint borrower or your estate to determine if they would like to pay out the mortgage or use the funds for any other purpose.

14 Reasons why you should consider this life insurance policy?

1. Three months initial free cover to decide if this policy is right for you.
2. Automatically available for the amount of the loan (up to $500,000).
3. Quick, easy and convenient way to enjoy life insurance coverage (Only 5 minutes to complete the application).
4. Only three basic health questions to complete.
5. No medical exams or blood tests.
6. No medical loadings or policy exclusions based on health or hobbies.
7. Guaranteed approval regardless of your occupation, hobbies or pastimes e.g. skydiving, motor bike racing.
8. 5% discount for joint applications.
9. A short one page application form.
10. Issued by Prefsure part of a worldwide multi-million dollar financial services group with in excess of 1.6 million policyholders. In Australia there is over 100,000 policyholders and $200 million in assets.
11. Built-in trauma living benefits cover, for the cover of cancer, heart attack, stroke etc.
12. No extra loadings for 'pay by the month' insurance premiums.
13. Guaranteed Renewable regardless of personal health changes.
14. You can cancel at anytime for free.

The insured person must be a borrower and guarantors are not eligible. A company can nominate two key employees to be covered with the proceeds going to the company. The maximum exposure is $500,000 per borrower otherwise further health questions will need to be asked.

As the initial three months cover are free premiums are only payable from month 4 and a 5% discount applies for joint borrowers.

If you answer YES to any of the three health questions, or you want a higher or lower insurance amount compared to the loan amount then we will put you directly in contact with the insurer to discuss your options further. In addition, if you would like advice that takes into account your personal circumstances then your Loans Australia Finance Advisor will also put you in contact with the insurer. Loans Australia does not offer individual advice in relation to this product. We will however outline the important features of the policy and will also assist in the completion of the application should you wish to obtain cover.

Adequate Life Insurance Protection is vital for borrowers

• The average Australian is 70% underinsured. (source: DEXX&R)
• The unexpected does happen - 1 in 8 people die between the ages of 25 and 65. (source: Australian life tables 95-97 as published by the Aust. Gov't Actuary)
• The financial consequences can be serious for the families of people with a mortgage.

What does the product provide?

Mortgage Life Plus provides financial security at a time of need by paying a lump sum in the event of:

• Death
• Illness Benefit

Living benefit (30% of death and terminal illness benefit amounts) for those diagnosed with one of the following 7 serious medical conditions

• Cancer
• Coronary artery by pass surgery
• Heart attack
• Kidney failure
• Paralysis
• Stroke
• Loss of independent existence

Underwritten by PrefSure Life - The 2004 Risk Company of the year

Some key features

Mortgage Life Plus is Affordable

Monthly premiums for $250,000 Death and $75,000 Living Benefits

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