VLF Protection Year 2021-2022
VLF is now in its seventh year and despite the challenging aviation and insurance environments and the ongoing effects of Covid-19, we continue to support members, offering temporary and permanent loss of licence benefits in the event of a suspension or cancellation of their Australian Class 1 Pilot medical certificate. Given VIPA’s planned amalgamation with the Transport Workers’ Union (TWU) and the potential that holds for growth of the Fund, we are confident of strengthened negotiating power in future years, which will enable us to deliver the best possible loss of licence terms.
Please refer to the 2021-22 VLF PDS for the full terms.
The contribution payable for the VLF product in 2021 is $3,004.77.
VLF Protection Benefit levels
The 2021 VLF Benefit Calculator is available for your use. Please insert your age and salary details into the calculator to view your loss of licence benefit levels for the 2021-2022 Protection Year.
1. The age you put into the VLF Benefit Calculator refers to your age at the commencement of the Protection Year i.e. on 1 May 2021
2. The references to Annual Salary are the salary to which you are entitled on the first day of any Temporary Total Disability or Permanent Total Disability.
3. The loss of licence benefit level from the VLF Benefit Calculator is based on the Virgin Narrow Body EA loss of licence contribution amount of $3004.77
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.