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Protect Your Lifestyle
Essentials Offer

Essentials Offer

We're ready to help.

 

 

Just because your residency ends, doesn’t mean your insurance has to.

Insure your next big step without paying big bucks.

Completing your residency is a time for celebration. But it's also a time to reflect on the fact that your resident association insurance benefits will end. That's why OMA Insurance has created Essentials, a limited-time, cost-effective special offer that gives you the financial protection you need as you transition to practice.

As your career has evolved, so has the lifestyle you support. Nothing could be worse than seeing the funds your family relies on seriously threatened by your suffering a disability or loss of life. With Essentials, you can advance to the next level knowing you're covered from the moment you start practicing.  ​


Essentially simple. Essentially affordable.

Since OMA Insurance works exclusively with physicians, we understand the demands the post-residency period brings, so we designed Essentials to give you the flexibility to choose your coverage and enjoy a wide variety of benefits:   

  • 50% discount on your Disability and Professional Overhead Expense Insurance Step Rate1 premiums for your first two years of practice.
  • No exclusions for pre-existing conditions.
  • No medical questions​, exams or financial disclosure required if you enrol during your first 120 days after completing residency.
  • Worldwide Portability – your coverage continues as long as you maintain coverage in an eligible Association/Society.
  • Annual Premium Refunds – as your not-for-profit association, premiums not used for claims, expenses and reserves may be refunded to you.

This offer is for a limited time, so please make sure your enrol​ment form is received within 120 days of completing residency. 


Choose / combine your coverages:​

Disability Insurance Professional Overhead Expense Insurance iCovers expense to help your practice run smoothly during your absence due to illness or accident Group Term Life Insurance
Up to $5,000/month with a 90-day Elimination Period
Optional:
  • Guaranteed Insurability Benefit Rider (GIB)
  • Cost of Living Adjustment Rider (COLA)
  • Own Occupation Rider
  • Retirement Protection Rider (RPR)
Up to $5,000/month

Optional:
  • Guaranteed Insurability Benefit Rider
Up to $100,0003 in benefits
Increase Disability Insurance immediately with your Guaranteed Insurability Benefit2 rider
  • Up to $7,000/month for General Practitioners
  • Up to $10,000/month for Specialists

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Rate Information

Coverage is simple and affordable. Rates depend on a variety of fac​​tors, from your smoking status to your choice of benefits. To learn more about rates, and to get a quote, simply contact OMA Insurance at info@omainsurance.com or 1.800.758.1641, or use the rate calculator


Eligibility

You are eligible if you are under the age of 60 and a member in good standing of the OMA or an Atlantic Medical Association/Society and:

  • You have successfully completed residency training and are covered under the OMA Group Disability Insurance and/or
    • PARO, Maritime Residents Doctors or PARNL Disability plan, or
    • any Canadian or United States medical resident association Disability plan, or
    • an Individual Disability policy
  • Residing and practising a minimum of 25 hours per week anywhere in Canada excluding Quebec on the date of application for coverage is signed and
  • Have not previously obtained coverage through the Essentials offer.​


The Enrolment Process

OMA Insurance works to streamline the enrolment process as much as possible, reducing the complexity and time required to arrange coverage. Here are the steps required:

Enrolment
If you did not get an enrolment form in the mail, you can get one here or by calling us. Once completed, simply send the form and a void cheque back to OMA Insurance.
next step
Received by Provider
The enrolment form must be received within 120 days of completion of residency to apply without medical or financial evidence. Our insurance provider will receive and review your enrolment form, and may contact you to discuss any details.
next step
Receive your Certificates
It usually takes 30-90 days for the provider to process all the information. Once your payment has been received, your certificates will be sent to you by mail.

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At this stage, and every stage.

Residency takes you to the next level of your career. Make sure you take your insurance to the next level too, with reliable, affordable protection now available through the Essentials offer. At OMA Insurance, we make it easy to get the coverage you need through residency, and at every stage of your life.  

 

You are automatically enrolled into Step Rates and have the option to convert to Level Rate up to age 65. Step Rates change according to your age band (under 35, 35, 45 and 55) at the time of the plan renewal. The level premium rates have been designed to remain level over time as you age and cannot be adjusted on an individual basis due to changes in your age or health. However, level premium rates may change from time to time on a group basis depending on the insurance costs of the group. While we cannot guarantee that rates will not be adjusted in the future, the OMA Disability Insurance Plan has a long history of stable rates. Premiums are renewable yearly and subject to applicable provincial taxes.

Provided you are working full time within 120 days of completing your residency program.

Coverage begins to reduce at age 66. Premiums do not reduce. If you have existing in-force life insurance coverage previously obtained under the OMA Student Life Plan you are not eligible for coverage under this offer.

You must be residing in Canada on the date your enrolment is signed. The enrolment form must be signed in and the Certificate of Insurance must be delivered to a province or territory other than Quebec.

The Essentials offer contains polices underwritten by Sun Life Assurance Company of Canada and New York Life Insurance Company. This fact sheet is a summary that provides the highlights, but not all the details, of the Disability, Life and Professional Overhead Expense Insurance plans. The complete terms, conditions, exclusions and limitations governing the plans are found in the group insurance policy underwritten by Sun Life Assurance Company of Canada, a member of the Sun Life Financial group of companies (for Disability and POE), and New York Life Insurance Company, Canadian Chief Agency, Toronto, ON M5H 3C2 on Policy Form GMR-FACE (for Life Insurance).. If you become insured under the Plan(s), you will receive a Certificate of Insurance outlining the details of your coverage. The insurer(s) have no right to cancel the group policy provided premiums are paid.​

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