One in five adults in Australia goes without general insurance protection for their household contents, car or home. Many of these people are uninsured, not because they don’t want insurance, but because they can’t afford traditional cover.
For these people, replacing essential items like computers and whitegoods or repairing a car, can cause financial hardship and significantly disrupt their daily lives – often these items are simply too expensive to replace.
Good Shepherd Microfinance’s Good Insurance program works with Australia’s largest insurance companies to create affordable and simple insurance policies for people on low incomes. These products enable people to insure their household belongings or cars, so they’re protected if things go wrong.
If an insurance policy has been developed with Good Insurance, you know it has been designed for the customer, that it has affordable premiums with no or negligible excesses, and that there are flexible payment options available.
Essentials by AAI, developed with Suncorp, allows customers to comprehensively insure their car, their home contents or both. Customers can also choose to pay premiums annually, or in monthly or fortnightly instalments, and use Centrepay to manage payments.
Essentials by AAI, has won awards for innovation at the Australian Insurance Industry Awards the Canstar Awards, Money Magazine Awards and the AB+F Insurance Awards.
You can find out more about Essentials by AAI through selected community organisations that are part of Good Shepherd Microfinance’s national provider network or by calling 1800 429 598.
Insurance 4 That, developed with Insurance Australia Group (IAG), is a single-item insurance solution. It provides an alternative to traditional contents insurance by enabling people to insure individual items and nominate the insured value of these items. It also gives customers the option to take out additional cover for portable items against theft anywhere in Australia, and comes with flexible payment options.
Essentials by AAI
2016 Innovation of the Year
Essentials by AAI, Australia’s first insurance product for people on low incomes, has won another award, taking out Insurance Innovation of the Year at the Insurance Industry Awards.
"I’ve worked for insurance companies for the last 15 years. That’s enough time, I thought, to develop a solid understanding of insurance in Australia. How wrong I was."
More than 110,000 people in Far North Queensland could be eligible to borrow money for essential goods and services and pay no or low interest through the region’s first Good Money community finance store.
Good Money opens today on Mulgrave Road at Bungalow and provides access to the No Interest Loan Scheme (NILS) and the StepUP low interest loan, helping people on low incomes by offering a better alternative to the high fees that come with cash loans and expensive consumer lease contracts.
Latrobe Valley residents will for the first time have access to a unique model of financial services - with plans for Victoria’s fourth Good Money store to open in Morwell next year.
Small loans from $200 to $2,000 with repayment options ranging from three months to one year (without the hidden costs).
The LaunchME program supports people start their own business, gain employment or embark on further study. There are four programs: LaunchME for Young Carers, LaunchME South Australia, LaunchME Dandenong and LaunchME Morwell.
No interest loans up to $1,500 for essentials goods and services such as white-goods, furniture, and education expenses.
Low interest loans of between $800 - $3,000 with no fees and affordable repayments offered in partnership with NAB.
Retail stores offering safe, fair and affordable financial services at prominent 'high street' locations in Victoria, South Australia and Queensland.
Online learning, face-to-face training and webinars that maximise the skills and resources of microfinance workers across Australia.
A buying service which leverages the purchasing power of our national network to access the best prices, quality products and excellent customer service for clients.
A matched savings plan of up to $500 offered to people who have successfully repaid a NILS or StepUP loan, offered in partnership with NAB.
A national program providing organisations with a framework to support the development of a series of practical actions they can take to improve financial inclusion for employees, customers and communities.