Super fund risk insurer ALI Group and home insurer Aussie have partnered to create an insurance scheme that combines life and home insurance.
The Aussie Mortgage Protection Plan (MPP) is being piloted in South Australia, with national roll-out due January.
The new insurance offering is integrated into Aussie’s mortgage sales software, Toolbox, and means customers or brokers no longer need to fill out separate application forms.
“Our software integrates the data from their mortgage details, saving time for both customer and broker,” says Aussie’s product head Andy Wright.
“The partnership with ALI is a benefit to Aussie, which can now offer market leading insurance solutions, while ALI has the added value of increased market penetration through access to Aussie’s customers.”
Cover is included up to 99 years old for loss of life and terminal illness, and up to 65 years old for specified critical illness and involuntary unemployment for the first 12 months.
There is also joint cover at different benefit levels, with the option of flexible cover choices for customers who nominate a monthly premium amount and cover according to their budget.