GENERAL AVIATION

GENERAL AVIATION / 01 May 2019

 

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 

 

AGE SALARY COVER LEVEL PRICE*
28 $50,000 $277,000 $162.25
30 $60,000 $330,000 $221.43
35 $70,000 $380,000 $289.46

 

JOINING BETWEEN 40-44 

 

AGE SALARY COVER LEVEL PRICE*
40 $50,000 $277,000 $467.71
43 $60,000 $330,000 $557.20
44 $70,000 $380,000 $641.63

 

JOINING BETWEEN 45-49 

 

AGE SALARY COVER LEVEL PRICE*
46 $50,000 $277,000 $571.31
47 $60,000 $330,000 $680.62
49 $70,000 $380,000 $783.75

*Price is calculated per quarter

 

 

WHO PAYS?

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.

BENEFITS:

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)
$50,000 $277,000 $4,155
$60,000 $330,000 $4,950
$70,000 $380,000 $5,700

  

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.