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BENEFIT LEVELS: VLF 2017-2018 PROTECTION YEAR
For the new VLF Protection Year, commencing 1 May 2017, VLF members can access up to:
• $1million in the event of a permanent loss of licence
• $300,000 for Accidental Death Benefits
How to apply:
VIPA Loss of Licence Protection – exclusively for VIPA members
Introducing 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: 2017-2018 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 claim 85% of their salary, up to the maximum benefit level of $1,000,000 (or chosen benefit level) 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 $1,000,000 (or chosen benefit level) 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 $1,000,000 (or chosen benefit level) Permanent Total Disability LoL Benefit is 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 (2017-2018 Protection Year)
For VLF terms and conditions, please consult the Product Disclosure Statement.
Read the VLF Financial Services Guide.
Read the VLF Constitution.
Download the VLF Opt Out Form.
How to Apply
Pilots who wish to join VIPA and the VLF must apply to join VIPA first and then complete the VLF Application Form and VLF Health Questionnaire. When your application has been processed, we will notify you, emailing you with membership information. Once your VLF application has been accepted, you will be sent a Schedule of Protection.
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 email@example.com