Before deciding to purchase an insurance product through Avant Insurance you should ensure you read the relevant policy wording, product disclosure statement (PDS) and financial services guide (FSG). These can be accessed below.
Income Protection, Life & TPD Insurance^
Avant has created an insurance package especially for young doctor members, consisting of:
Income protection insurance
- Pays you a monthly benefit for up to 2 years of about 75% of your current income while you are unable to work, following a 30 or 90 day waiting period.
- Automatic upgrades to your income benefit every second year (subject to you meeting the income band requirements); up to a maximum of $100,000 per annum as you progress throught training.
- No need to pay your insurance premium for income protection in the event that you claim income protection pay outs.
- There is no waiting period if the same issue recurs within 6 months of returning to work.
- Income protection premiums are usually tax deductible.
Life Insurance and Total and Permanent Disablement Insurance (TPD)
- Pays a lump sum of up to a maximum of $300,000 if you die or are diagnosed with a terminal illness, or if you are totally and permanently unable to work in your own occupation.
- Allows for $10,000 pre-payment for funeral costs.
- TPD benefit is paid in addition to the income protection benefit, where applicable.
This product has been designed specifically with young doctors in mind. The eligibilty criteria are:
- you need to be a registered medical practitioner currently employed by an Australian public teaching hospital or enrolled in a specialist training program
- at an entry age of between 20 and 40 years old at the time your policy starts
- an existing member of Avant
For full details of the policies, including the product disclosure statement, and financial services guide:
Want more information on premium rates or a quote?
Click here to apply for a quote online.
Alternatively call us on 1800 010 238 to discuss your needs.
Frequently asked questions (FAQs)?
Click here for FAQs. Alternatively call us on 1800 010 238 to discuss your questions.
Important Notes
* Professional indemnity insurance products available from Avant Mutual Group Limited ABN 58 123 154 898 (Avant) are issued by Avant Insurance Limited, ABN 82 003 707 471, AFSL No. 238765 (Avant Insurance). Life risk insurance products available from Avant are issued by Hannover Life Re of Australasia Ltd, ABN 37 062 395 484 (Hannover), and distributed by Avant Insurance. The information provided here is general advice only. You should consider the appropriateness of the advice having regard to your objectives, financial situation and needs before deciding to purchase or continuing to hold a policy or cover through Avant. Please read and consider the policy wording and/or PDS for the product, which are available at www.avant.org.au or by contacting us on 1800 128 268.
^ Life insurance is issued by Hannover under an arrangement with Avant Insurance. If this arrangement ends and Avant Insurance is not able to source another life insurance partner, your insurance cover may end. It may also end for other reasons such as your failure to pay premium. See the PDS for details