VLF – equal protection regardless of age, fleet, rank or salary
VIPA believes in the fair treatment of pilots. In response to your feedback we have changed our benefits to ensure that LoL benefits are the best we can offer. If you contribute an equal amount for your LoL you should have equal protection, regardless of age, fleet, rank or salary.
The following table shows the 2017-2018 EBA LoL Reimbursement and the Full Top-up option for each pilot group:
| Virgin Short Haul pilots |
|
EBA Amount |
$2,858.90 |
|
|
LoL Protection Limit |
$900,000 |
|
|
Top Up Cost $50 per $10,000 of Protection |
up to $1,000,000 |
|
|
Cost to Top Up to Full LoL Protection limit of $1,000,000 |
$500.00 |
|
| Virgin Long Haul pilots |
|
EBA Amount |
$2,640 |
|
|
LoL Protection Limit |
$838,611.72 |
|
|
Cost to Top Up to Full LoL Protection limit of $1,000,000 |
$718.90 |
|
| Tigerair pilots |
|
EBA Amount |
$1,708.20 |
|
|
LoL Protection Limit |
$542,619.90 |
|
|
Cost to Top Up to Full LoL Protection limit of $1,000,000 |
$1,650.70 |
|
| VARA pilots |
|
EBA Amount |
$1,353.44 |
|
|
LoL Protection Limit |
$429,928.27 |
|
|
Cost to Top Up to Full LoL Protection limit of $1,000,000 |
$2,005.46 |
|
| VANZ pilots* |
*VANZ Pilots, please contact VIPA Financial Services to discuss your required LoL Protection Limit and the amount contributed by your employer under your CEA. Please note VLF Protection Limits and Contribution amounts are in Australian Dollars.
The Permanent LoL Benefit is now purchased at:
• 2017-2018 Protection Year – a rate of $31.4806 per $10,000 level of cover. At the maximum contribution level, $2,858.90 purchases $900,000 Permanent LoL Benefit, the same whether you are a Captain, First Officer or Second Officer. Furthermore, that $900,000 benefit will remain the same up to age 65!
The following table details the VLF Loss of Licence Protection limits and their respective cost at a rate of $31.4806 per $10,000 up to the $900,000 LoL Protection Limit and $50.00 per $10,000 up to the $1,000,000 LoL Protection Limit (2017-2018 Protection Year).
|
Loss of Licence Limit |
|
Contribution to VLF 2017-2018 |
|
|
$1,000,000 |
|
$3,358.90 |
|
|
$990,000 |
|
$3,308.90 |
|
|
$980,000 |
|
$3,258.90 |
|
|
$970,000 |
|
$3,208.90 |
|
|
$960,000 |
|
$3,158.90 |
|
|
$950,000 |
|
$3,108.90 |
|
|
$940,000 |
|
$3,058.90 |
|
|
$930,000 |
|
$3,008.90 |
|
|
$920,000 |
|
$2,958.90 |
|
|
$910,000 |
|
$2,908.90 |
|
|
$900,000 |
|
$2,858.90 |
|
|
$890,000 |
|
$2,801.77 |
|
|
$880,000 |
|
$2,770.29 |
|
|
$870,000 |
|
$2,738.81 |
|
|
$860,000 |
|
$2,707.33 |
|
|
$850,000 |
|
$2,675.85 |
|
|
$840,000 |
|
$2,644.37 |
|
|
$830,000 |
|
$2,612.89 |
|
|
$820,000 |
|
$2,581.41 |
|
|
$810,000 |
|
$2,549.93 |
|
|
$800,000 |
|
$2,518.45 |
|
|
$790,000 |
|
$2,486.97 |
|
|
$780,000 |
|
$2,455.49 |
|
|
$770,000 |
|
$2,424.01 |
|
|
$760,000 |
|
$2,392.53 |
|
|
$750,000 |
|
$2,361.05 |
|
|
$740,000 |
|
$2,329.56 |
|
|
$730,000 |
|
$2,298.08 |
|
|
$720,000 |
|
$2,266.60 |
|
|
$710,000 |
|
$2,235.12 |
|
|
$700,000 |
|
$2,203.64 |
|
|
Loss of Licence Limit |
|
Contribution to VLF 2017-2018 |
|
|
$690,000 |
|
$2,172.16 |
|
|
$680,000 |
|
$2,140.68 |
|
|
$670,000 |
|
$2,109.20 |
|
|
$660,000 |
|
$2,077.72 |
|
|
$650,000 |
|
$2,046.24 |
|
|
$640,000 |
|
$2,014.76 |
|
|
$630,000 |
|
$1,983.28 |
|
|
$620,000 |
|
$1,951.80 |
|
|
$610,000 |
|
$1,920.32 |
|
|
$600,000 |
|
$1,888.84 |
|
|
$590,000 |
|
$1,857.36 |
|
|
$580,000 |
|
$1,825.87 |
|
|
$570,000 |
|
$1,794.39 |
|
|
$560,000 |
|
$1,762.91 |
|
|
$550,000 |
|
$1,731.43 |
|
|
$540,000 |
|
$1,699.95 |
|
|
$530,000 |
|
$1,668.47 |
|
|
$520,000 |
|
$1,636.99 |
|
|
$510,000 |
|
$1,605.51 |
|
|
$500,000 |
|
$1,574.03 |
|
|
$490,000 |
|
$1,542.55 |
|
|
$480,000 |
|
$1,511.07 |
|
|
$470,000 |
|
$1,479.59 |
|
|
$460,000 |
|
$1,448.11 |
|
|
$450,000 |
|
$1,416.63 |
|
|
$440,000 |
|
$1,385.15 |
|
|
$430,000 |
|
$1,353.67 |
|
|
$420,000 |
|
$1,322.19 |
|
|
$410,000 |
|
$1,290.70 |
|
|
$400,000 |
|
$1,259.22 |
|
|
$390,000 |
|
$1,227.74 |
|
Note: this limit applies regardless of your age.
Accidental Death Benefits
In the event of accidental death, VLF members can claim their Permanent and Total Disability LoL benefit plus an additional:
2017-2018 Protection year – $300,000 payment. At the maximum contribution level, a VLF member’s representative can claim $1,300,000 for accidental death.
Disclaimer
This information is for illustrative purposes and general in nature. It has been prepared without taking into account any of your objectives, financial situation or needs. You must therefore assess whether this product is appropriate for you, in light of your own individual objectives, financial situation or needs. It is advisable that you obtain professional financial advice before making any decisions. Examples do not take account of your individual tax situation. You should seek advice from a qualified professional regarding taxation. You should obtain a Product Disclosure Statement in respect to the product prior to making any decisions to acquire this product. VIPA is not an insurance broker or advisor and the information in this document and/or on the VIPA website are provided for the information of members only. VIPA does not accept responsibility for any loss, expense or liability which you may incur from using or relying on the information in this brochure/flyer. VIPA does not accept liability for any decisions made by any person in relation to this insurance product.
