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Avant - Mutual Group

  • Income Protection

    Cover for your chosen specialty over your entire medical career



  • Income Protection Cover

    When your income protection plan covers your chosen specialty over your entire career – that’s peace of mind.

    When illness, injury or litigation prevents you from practising in your own specialty, Avant’s Income Protection insurance supports you, paying a monthly benefit up to 75% of your regular income, plus up to a further 10% to contribute towards your superannuation.

    Things to consider when taking out Income Protection

    Doctor-specific insurance benefits

    • You’re covered if you can’t perform the duties specific to your own specialty irrespective of your ability to perform other medical duties.
    • If you contract any type of infectious disease and your regulatory body restricts you from practising, your cover will respond even if you are physically capable of performing your duties.
    • Flexibility to increase your insurance cover up to 30% every year until age 35, then up to 15% every year thereafter, without This makes it easier to protect your income as it grows.
    • For Avant members, a monthly litigation support payment supplements up to 50% of income lost as a consequence of medico-legal events1.
    • Maintain full cover if you take an overseas placement or undertake further training or study for up to 3 consecutive years.

    1Medico-legal income support is only available to medical practitioners who are voting members of Avant Mutual and insured by Avant under a Practitioner

    Market-leading features

    • Provides more cover – up to 75% of your income, including overtime and superannuation, with the ability to insure up to a further 10% for superannuation contributions (maximum benefit of $2,667 per month).
    • Higher monthly benefits – up to $60,000 per month.1
    • Receive an additional $1,000 a day in the event of hospitalisation for more than three consecutive days.
    • Benefit payments are based on your highest consecutive 12 months’ income over the last three years.
    • You’re reimbursed for rehabilitation programs to help you return to work in your specialty sooner.
    • Maintain full insurance cover if you’re working part-time or providing full-time care for young children.
    • In the event of financial hardship, you have the option to suspend premiums for up to 6 consecutive months. During this period, you do not have to pay premiums but cannot claim for events that occur during this period of premium suspension.

    1Monthly benefit payments are capped at $30,000 per month after two years of payments for the same illness or injury

    Simple options

    • Your choice of waiting period from 30 days to two years.
    • A choice of benefit periods – elect to receive benefits for 2 years, five years, to age 60, to age 65 or to age 70.
    • Your choice of stepped or level premiums.
    • Options to pay insurance premiums through your self-managed superannuation fund, where cover is taken under superannuation. A range of ownership options to suit your circumstances including self-ownership, or through a company, trust or self-managed superannuation fund.

    Eligibility

    Avant’s Income Protection plan has been developed by doctors exclusively for doctors. If you are a medical practitioner between the ages of 20 and 60 and currently employed, you are eligible to apply.

    At the time of application you must be:

    • an Australian resident,
    • aged between 20 to 60,
    • a registered medical practitioner, and
    • gainfully employed for at least 20 hours per week.

  • For full terms, conditions, limitations and eligibility please refer to the Avant Life Insurance Product Disclosure Statement which is also available by calling us on 1800 128 268 or emailing us at avantlife@avant.org.au.  Alternatively, schedule an appointment with one of our advisors.

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