In QLD the maximum that Workers Comp will payout is 85% of your NWE (Normal Weekly Earnings). With a pregnant wife, two kids and a mortgage, I don't want 85% of my NWE, I NEED 100% of my NWE!
As a helicopter pilot it's basically impossible to obtain affordable income insurance other than the MBF fund. That, along with the fact that it is an MBF fund run by pilots and not an insurance product, is the reason I took out the MBF coverage.
Like a lot of people these days, financially speaking we run pretty close the wire. If I have an accident at work tomorrow and my income drops to 85% of my NWE, I'm going to have to sell my house. Whereas if I was able to claim the temporary benefits from my MBF policy, that aren't capped at a percentage of my income, then I can keep my house and my kids stay in Kindy. It's that simple for me!
Or am I missing something here?