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The VLF 2019-2020 Protection Year starts from 1 May 2019
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
The 2019-2020 VLF PDS is now available.
Existing VIPA members with VLF protection will be automatically renewed, as per your renewal email sent on 1 Mar. To opt out of VLF, you must complete the opt out form and mail it to vfs prior to 31 March 2019.
If you wish to join VIPA’s Loss of Licence Fund, the membership application and health questionnaire will be posted here in the coming weeks. Please don’t hesitate to contact us now at firstname.lastname@example.org or on 1800 116 460, option 5 for assistance.
BENEFIT LEVELS: VLF 2018-2019 PROTECTION YEAR
For the new VLF Protection Year, commencing 1 May 2018, VLF members can NOW access up to:
• 95% of their base salary, paid monthly for up to 24 months in the event of a temporary loss of licence
• $800,000 in the event of a permanent loss of licence
For pilots not currently employed by the Virgin Australia Group, please contact VLF on: 1800 116 460, option 5 or email email@example.com for your available protection levels.
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: 2018-2019 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 (2018-2019 Protection Year)
For VLF terms and conditions, please consult the Product Disclosure Statement.
Read the VLF Financial Services Guide.
Read the VLF Constitution.
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 Protection 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 firstname.lastname@example.org