Have you ever considered what would happen if you couldn't fly because of a sudden injury or illness? If one day you were playing sport and broke your leg - which meant you were off flying for a few months with no steady stream of income. That's where the MBF comes in - we take care of you in these situations, so you can actively work towards regaining your Class 1 Medical without having to worry about the financial pressures of life.
MBF DOESN'T HAVE TO BE A HIGH COST EXPENSE
The below tables detail a level of cover that is more than 5-times your salary:
JOINING UNDER 40
JOINING BETWEEN 40-44
JOINING BETWEEN 45-49
*Price is calculated per quarter
Under the Air Pilots Award 2010, pilots are entitled to an Annual Loss of Licence allowance of $2,005 paid for by their employer. If you have an Enterprise Agreement or individual contract, you could receive more.
Monthly benefits start 90 days after the date of disability or at the end of sick leave, whichever occurs last - are paid for up to two full years. We also pay the full monthly amount regardless of other income you earn. Monthly payments are capped at 1/12th of your Annual Income.
|Annual Income||Cover Level||Monthly Payments (Gross)|
REFUND OF CONTRIBUTIONS:
MBF acts as 'forced savings'. After 20 years of membership, you may apply to have the money you've spent on your cover refunded to you once you retire.