Avant - Mutual Group

  • Practice Expense
    Cover

    Keeping your medical practice going while you recover.



  • Practice Expense Cover

    Avant’s Practice Expense Cover will protect your share of the everyday costs of running your practice, if you are prevented from practising due to illness or injury.

    Things to consider when taking out Practice Expense Cover

    Benefits

    • Monthly benefits to cover your practice expenses for up to 12 months if you can’t perform the duties specific to your own specialty irrespective of your ability to perform other medical duties.
    • Full benefit paid if you contract any type of blood-borne disease that prevents you from working in your area of specialty, irrespective of how it was contracted or how your general health is affected.
    • Lease extension benefits for up to 18 months to cover your practice lease expenses if you remain unable to work to your full capacity after all monthly reimbursements have ceased.
    • Payment extension to cover your practice expenses for up to another year if you have not received the full benefit you are covered for.

    Features

    • Receive higher monthly benefits – up to $60,000 per month to cover your share of practice and service company expenses.
    • You’re covered for longer – receive full benefit up to age 70.
    • Elective surgery cover – You will be eligible for either the Practice Expense Reimbursement Benefit or Partial Expense Reimbursement Benefit if you are unable to work at full capacity as a result of elective surgery performed.
    • Recurring illness or injury – If you suffer a relapse of the same or a related illness or injury within 12 months of your claim ending, we will waive the waiting period and treat the relapse as a continuation of your original claim and benefit period. If the relapse occurs more than 12 months after, we will treat it as a new claim and the waiting period will start again.
    • Cover for the cost of salaries for all non-income earning employees, including relatives, be they full-time, part-time, contract or casual.
    • You’re covered for the net cost of employing a locum when you can’t work.
    • As your medical practice grows your level of protection can grow with it – with up to 15% increase each year without the need for medicals.

    Simple options

    • Your choice of waiting period from 30 or 90 days.
    • Choose between stepped or level insurance premium payments.
    • A range of ownership options to suit your circumstances including self-ownership, ownership by another individual, a company or trust.

    Eligibility

    To be eligible for Practice Expense Cover, at the time of application you must be:

    • an Australian resident
    • 20 to 60 years old
    • a registered medical practitioner
    • gainfully employed for at least 20 hours per week
    • either self-employed or a medical practice owner or part-owner of a medical practice.

  • Calculate your insurance needs now >>

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

  • Products you may also be interested in...

    Income Protection

    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 85% of your regular income.

    Read More

    Life and TPD Cover

    In the event of death, or when an illness or injury permanently prevent you from practising in your own specialty, Avant’s Life and TPD Cover provides a lump sum benefit.

    Read More