Medical & Dental Students

  • I will be responsible for the ongoing costs of managing my practice (or my share of the practice) in the future
  • If I were disabled due to injury or illness, I would want my monthly expenses to be taken care of without using my personal savings
  • I am interested in taking advantage of a graduate discount

Disability insurance can be purchased while you are young and healthy, and can be increased over time without having to do another medical.

Dental Students

Disability insurance provides an ongoing monthly income in the event that you are unable to work due to illness or injury at any point before the age of 65.

There are numerous insurers vying for your business, thus they have created incentives in the form of lifetime discounts on their disability insurance products if you apply while you are still a student.

The coverage has a locked-in level rate for life, and the contract wording is guaranteed.

Features

Highlights

  • Fully guaranteed
  • Individually-owned policies
  • 24-hour coverage for total and partial disability
  • Guaranteed 15-25% discount for life of the contract (depending on the insurance company)
  • Worldwide portability: including Canada and the United States
  • 1st and 2nd year dental students: $1,500/month non-taxable benefit available
  • 3rd year dental students: $2,500/month non-taxable benefit available
  • Graduating students: $3,500/month non-taxable benefit available
  • Future Income Option (up to $25,000 monthly benefit with no evidence of health to keep pace with rising income)

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Medical Students

As brokers in the Canadian marketplace we are able to shop the market and to provide what we feel is a superior disability product for a graduate physician going into residency. The minimal out-of-pocket expense to have a personal, non-cancellable disability plan that can be increased at the end of residency should not be overlooked.

The guarantees that come with an individual, non-cancellable disability insurance contract cannot be replicated by an association/group plan like the OMA. Learn more about the differences between private coverage and association (OMA) coverage.

Apply for a Disability Plan

Features

Highlights:

  • The Professional Plan fully guaranteed
  • Individually-owned policies
  • 24-hour coverage for total and partial disability
  • HIV and Hepatitis B/C coverage
  • Guaranteed 25% discount for life of the contract
  • No medical exam or blood tests required at time of underwriting the application
  • Plan continues through residency and into practice
  • Worldwide portability: including Canada and the United States
  • 1st and 2nd year medical students: $1,500/month non-taxable benefit available
  • 3rd year medical students: $2,500/month non-taxable benefit available
  • Graduating students: $4,000/month non-taxable benefit available
  • Future Income Option (up to $25,000 monthly benefit with no evidence of health to keep pace with rising income)

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“When leaving medical school to start residency, or as an associate of a dental practice, you will need to build yourself a ‘board of directors’. An accountant, a lawyer, a financial advisor, and an insurance specialist can help navigate the unfamiliar waters surrounding practice purchase.”

– Dan MacLellan