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GENERAL AVIATION / 02 May 2017

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 $154.63
30 $60,000 $330,000 $210.54
35 $70,000 $380,000 $275.88

 

Joining Between 40-44 

 

AGE SALARY COVER LEVEL PRICE*
40 $50,000 $277,000 $444.86
43 $60,000 $330,000 $529.98
44 $70,000 $380,000 $610.28

 

Joining Between 45-49 

 

AGE SALARY COVER LEVEL PRICE*
46 $50,000 $277,000 $543.88
47 $60,000 $330,000 $647.95
49 $70,000 $380,000 $746.13

*Price is calculated per quarter

 

 

WHO PAYS?

Under the Air Pilots Award 2010, pilots are entitled to an Annual Loss of Licence allowance of $1,783 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 are paid for up to two full years. We also pay the full montly 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.