As a resident you have access to group coverage through your provincial resident association. Coverage includes disability, life insurance, extended health care and dental insurance. No evidence of health is required for this coverage. While your resident coverage may give you some protection, it is for the short term. Upon completion of residency your coverage automatically terminates.
You are exposed to conditions, risks and stresses that most people simply don’t have to face in their day-to-day lives. Protecting your ability to earn an income is the first step to securing your financial future. Disability insurance is the most important coverage you can have. Your hopes, dreams and plans for the future depend upon your remaining healthy and able to work.
Disability insurance is also the hardest protection you can buy. Underwriting is much more rigorous. Pre-existing conditions may be excluded, rated or declined.
Group association disability plans do not offer medical professionals the long term guarantees they need to protect their lifetime income. It’s essential to have a “back-up” plan. A plan that is properly designed to give you the protection you need while saving you money long term. Definitions of disability that protect your occupation and benefits that are payable to age 65. Most importantly, a contract that is individually owned, non-cancellable and guaranteed to age 65.
We can educate you on the various disability contracts so that you can make an informed decision about the appropriate coverage that will protect your lifetime income.