Aon Financial Planning and Protection has partnered with mortgage broker Smartline to improve the risk advice provided to mortgage holders.
Under the newly-formed partnership, life risk advice, which was traditionally offered as an add-on service for mortgage holders, will be integrated as part of a holistic mortgage advice offering for Smartline's new and existing clients.
Aon Financial Planning and Protection managing director Pierre Kraft said the partnership would help more Australians access financial advice.
"Underinsurance is a growing problem in Australia and this is a great opportunity to embed in the minds of mortgage holders the importance of sound life risk advice," Kraft said.
"Mortgagees have to protect their assets and this partnership gives Smartline clients access to a solution that not only covers their debt exposure but also helps them protect themselves and their families."
Smartline managing director Chris Acret said the group wanted to make risk insurance a core part of the business and that the Aon partnership would give clients access to a client advocacy team that would ensure all insurance decisions were based on the client's best interests.
"Aon has been at the forefront of risk insurance for a long time and we are extremely impressed with the company's level of professionalism, which is why we've chosen to partner with them," Acret said.
He added that while many Australians might be well insured in terms of their car or home and contents, for every home that's lost through fire there are four other homes lost through the event of death and 48 homes lost through disability.
