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The VLF 2020-2021 Protection Year starts from 1 May 2020
We are pleased to confirm the new benefit levels for the 2020-2021 VLF Protection Year are:
• A Temporary Total Disability benefit of up to 85% of your monthly base salary at the time of injury/illness, for a period of up to 24 months, up to your maximum benefit level
• A Permanent Total Disability benefit of up to $700,000 or limit in your particular age band, less any temporary total disability benefits paid.
VLF loss of licence protection benefits have changed from previous years. Current members will have received a renewal email in the first week of April 2020 explaining the changes.
For VLF 2020-2021 terms and conditions, please consult the 2020-21 VLF PDS.
Existing VIPA members with VLF protection will be automatically renewed on 1 May each year.
If you wish to join VIPA’s Loss of Licence Fund, you can now apply online for the 2020-2021 Protection Year.
You will need to complete both the VLF Application Form and the VLF Health Questionnaire. VFS will assess your application and will email you with Protection information.
If you have any questions, please don’t hesitate to contact us now at firstname.lastname@example.org or on 1800 116 460, option 5 for assistance.
Working as a pilot but not with the Virgin Australia Group?
VLF can offer Loss of Licence Protection if you join VIPA as an Associate member.
The reduced annual fee for Associate membership allows you access to the VLF Loss of Licence Protection. Simply complete the VLF Application Form indicating your current employer, as well as a VLF Health Questionnaire. VFS will be in contact with you to advise your available protection levels.
For any questions regarding VLF, please contact us on: 1800 116 460, option 5 or email email@example.com .
The VLF 2019-2020 Protection Year
We are pleased to confirm the benefit levels for the 2019-2020 VLF Protection Year remain:
• up to 95% of your base salary, paid monthly for up to 24 months in the event of a temporary loss of licence
• up to $800,000 in the event of a permanent loss of licence
VIPA Loss of Licence Protection – exclusively for VIPA members
The VIPA Loss of Licence Fund – VLF
The VIPA Loss of Licence Fund (VLF) harnesses the power of a Mutual Fund combined with the security of an Insurance Policy underwritten by certain underwriters at Lloyd’s of London, to offer members enhanced LoL protection.
VLF members have the comfort of knowing when their claim is accepted by VLF, they can be confident their benefit will be paid.
The key elements of VLF’s LoL Protection include:
• Simple and fair protection for a loss of your Australian Class 1 Medical
• Enhanced benefit amounts
• Permanent LoL benefit does not vary with age, fleet, rank or salary
Details of the Cover: 2019-2020 Protection Year
Membership of VLF covers you for two events; temporary loss of your Australian Class 1 Medical and permanent loss of your Australian Class 1 Medical. Benefits are usually paid in two ways:
1. Temporary Total Disability LoL Benefit
VLF members can NOW claim up to 95% of their salary, up to the maximum annual benefit level of $280,000 p.a for a period of up to 24 months from the end of the waiting period (subject to the terms and conditions in the Product Disclosure Statement). Payments commence after the 90-day waiting period.
2. Permanent Total Disability LoL Benefit
VLF members can claim a maximum benefit of $800,000 less whatever has already been paid in Temporary Total Disability benefits. The amount of benefit that can be claimed is the same regardless of age, fleet, rank or salary.
When it is determined by the Civil Aviation Safety Authority (CASA) that a member has lost their Australian Class 1 Medical Certificate permanently, the remainder of the $800,000 Permanent Total Disability LoL Benefit may be payable.
For specific details regarding the cost of VLF Cover, and the amount you will be reimbursed by the Company, view the VLF – LoL Protection information.
Terms and Conditions (2019-2020 Protection Year)
For VLF terms and conditions, please consult the 2019-2020 VLF PDS.
Read the VLF Financial Services Guide.
Read the VLF Constitution.
For the most common questions regarding VLF cover, or to get more information about how the cover will work for you, view the VLF – FAQ.
For VLF enquiries or queries relating to your specific circumstances, please contact VFS on 1800 116 460, option 5 or email firstname.lastname@example.org