Avant Insurance: Tailored cover for medical professionals.
If you are a doctor, or working or studying in the medical field in any way, Avant Insurance offers tailored and specialised protection options for your professional indemnity insurance and legal representation. Avant Insurance also offers its members health insurance, income protection insurance, life insurance , income protection insurance, and total and permanent disability insurance.
Avant is a fully member-owned insurance company which means that every aspect of the structure, operations and products from Avant has been specifically designed to benefit members and find new ways to protect and support their needs.
This includes not only insurance and protection products, but also risk management, defending claims, making their industry voice heard and providing national and state-based resources. With over 60,000 members, the services and assistance offered by Avant also runs to offering in-house legal services, and advocacy services to support those in the ever-changing medical profession.
Benefits of life insurance with Avant Insurance for medical workers
As a member-owned insurer, Avant Insurance operates with a total commitment to provide the best products, services and support. For example, in 2011 Avant introduced a loyalty reward program, to reward members who had been loyal to the insurer. The Avant Loyalty Reward Plan rewards eligible members with premium deductions between 6% and 15% when the Avant Board determines that the insurer is financially strong enough to provide this discount without compromising its position.
Life insurance products available through Avant Insurance
Avant Insurance has a number of life insurance products designed to cater to the specific needs of their members in the medical profession or field of study. Insurance products you can choose include:
- Life, total and permanent disablement, and income protection insurance. Designed for registered medical practitioners between the age of 20 and 45 years old, cover includes a monthly benefit for income protection if you are unable to work because of illness or injury, and you can continue to receive a benefit for two years, or until you are 65 years old. Life and TPD insurance pays a lump sum benefit to your family if you die, are diagnosed with a terminal illness or you are totally and permanently unable to work in your own occupation.
- Student indemnity insurance. Avant Insurance offers free membership and indemnity insurance cover for medical students in Australia. Your cover also includes free travel insurance for one trip in 2013.Student indemnity insurance provides you with cover for: civil liability for Good Samaritan acts anywhere in the world, legal fees up to $500,000 for disciplinary, criminal or coronial investigations, automatic communicable disease cover for $75,000. As an Avant Insurance member, you will also be gaining access to the largest in-house legal team with any medical defence organisation in Australia, plus access to case studies, webinar and online resources for risk management education, and 24/7 expert legal medical advice.
- Intern/RMO1 indemnity insurance. Avant can provide you with up to $20 million of cover, with a communicable disease limit of $125,000. Also included is free travel insurance for two trips in 2013, and a copy of the Emergency Medicine Handbook which is valued at $243. You will also receive cover including: unpaid healthcare for Good Samaritan acts, unpaid volunteer work, education, presentations, articles, prescription and referral. Legal fee coverage for disciplinary, criminal or coronial investigations up to $500,000 and up to $150,000 for Medicare audits, employer or VMO disputes, defamation pursuit and defence, reporting a healthcare professional or incident, and training program disputes.
- Practitioner indemnity insurance. Avant provides you with professional indemnity insurance, cover for Good Samaritan acts around the world, and cover for the costs of legal defence. This includes cover for the direct treatment of patients, supervising others treating patients, and for the legal representation for medical board enquiries or other matters affecting the ability to practice. You’ll also have access to case studies, risk education webinars, 24/7 medico-legal advice and have Australia’s largest in-house legal team behind you.
- Practice medical indemnity: Avant will assess your medical practice and tailor a package to your needs based on their knowledge of the healthcare sector and their insight into the risks practices generally face. This means you are covered for: claims against the practice entity, partners, directors or employees, failure of practice protocols, liability assumed as a partner, breaches of patient privacy by staff, errors by unsupervised staff.
- Practitioner indemnity run-off insurance: Avant provides cover for when you retire or take maternity leave, in case of issues which may have occurred while you were practicing. If you cease practicing before you are 65 years old, your cover mirrors your last policy with Avant. You will then be covered for $20 million in civil liability claim cover, as well as receiving cover for disciplinary, coronial and criminal proceedings. You will also have access to 24/7 medico-legal advice, and case studies and resources for winding down risk management. The Run-Off Cover Scheme is a government funded insurance policy to ensure that retiring doctors 65 years or older can receive free general medical indemnity cover.