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Protect Your Lifestyle
Life Insurance

Term Plus Life Insurance

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Ask a Qu​estion Documents/OMARequestforPADOptionForm.pdfForm--Pre-Authorized Debit Form Documents/Conversion to T100 Form.pdfForm-Flex Term Life-Request to Convert To Level Term to Age 100 for Policy G-29700-0 Documents/Group Life Insurance Change of Beneficiary Form.pdfForm-Group Life Insurance Change of Beneficiary Form Documents/TransferofOwnershipForm.pdfForm-Life Insurance-Request to Transfer Ownership Documents/TransferofOwnershipBankingForm.pdfForm-Life Insurance-Request to Transfer Ownership: Agreement Regarding Payment of Contributions Documents/Conversion to T100 Form .pdfRequest to Convert To Level Term to Age 100

Make sure your finances have life support.
Protect your family’s future.

Extend the life of your Life Insurance.

You're working hard to protect the health of others. That same dedication can be just as important when it comes to protecting your family's lifestyle in the event of an untimely death. By choosing the right life insurance coverage now, you can help preserve everything you've worked for and everything they depend on, well into the future.​

OMA Term Plus Insurance gives you coverage when you need it most, and offers a dependable way to fund debt repayments, final expenses, your children's education or any other financial need if you die prematurely. And best of all, after you turn age 75, you'll have a reduced amount of coverage for life, with no further payments needed.​

Insurance that grows with you.

Designed to meet your increasing insurance needs, OMA Term Plus Insurance features several benefits:

1. Coverage increases automatically with no medical evidence required

Your original coverage amount will increase by 10% every year up to 10 years with no medical questions asked, provided you are under age 60, your additional premiums are paid, and you don't request a decrease in coverage. You may end this feature at any time, but once declined it can't be reinstated.

2. Coverage for Life

Chart OMA Term Plus is affordable group term life insurance that keeps pace with your lifestyle, increasing in value when you need it most. Beginning at age 66, when your protection needs usually decrease, coverage will reduce each year until age 74. Premiums do not reduce. At that point, 10% of your overall coverage will remain level for life, and you'll have no further payments to make – resulting in protection and peace of mind. This chart illustrates how your initial $100,000 will continue.

3. Personal and Spousal Coverage

Cover yourself and your spouse up to $1,000,000 each, provided you are both under age 60. Enhancements are added in units equal to 10% of your original coverage with your premiums increasing in direct proportion. Coverage becomes effective on the date your request is approved, provided premiums are paid when due. Spousal coverage will continue in the event of your death. Additional coverage may be available through other OMA plans (up to a combined $5,000,000).

4. Waiver of Premium

Should you become totally disabled before age 60 and your total disability lasts at least 270 consecutive days, premiums for the basic coverage (not enhancements) may be waived for as long as you remain totally disabled.

5. Annual Premium Refunds

As your not-for-profit association, premiums in excess of claims, expenses and reserves are refunded. While past performance does not guarantee future results, over the past 10 years they have averaged over 50% of annual premiums. See how much OMA Insurance has refunded members in the past.

6. Portable Worldwide Coverage

If you leave Canada, your insurance is portable anywhere in the world, as long as you're a member of an eligible Association/Society.

7. Optional Accidental Death & Dismemberment Coverage (AD&D)

In the event of your death or dismemberment due to an accident, a lump sum payment may be made in addition to any other benefit your or your family might already receive, making AD&D the perfect complement to your Term Plus Life coverage. Learn more about Optional AD&D Coverage.

​​Current Annual Premiums Per $100,000 Unit1

Coverage is simple and affordable. Rates depend on a variety of factors such as gender, age and smoking status.

Age​ on
Sept. 01
​​Male Non-Smoker2 Male Smoker
Term Plus Waiver of Premium3 ​Term Plus ​​Waiver of Premium3
​Under 30 $57​$6$86​$8
30-34 $72​​$7​$110​​$11
35-39​ ​$110​$11​$166​$17


Age​ on
Sept. 01
​​Female Non-Smoker2 Female Smoker
Term Plus Waiver of Premium3 ​Term Plus ​​Waiver of Premium3
​Under 30 $32​$5$50​$7
30-34 $47​​$7​$72​​$11
35-39​ ​$84​$12​$124​$18

Plus applicable Sales Tax. Rates shown above are subject to change by New York Life Insurance Company. Premiums increase as you enter a new age bracket. Rates age 60 and up are for renewal purposes only.

To learn more about rates, and to get a quote, simply contact OMA Insurance at  or 1.800.758.1641, or use the rate calculator​​​.


  • OMA Term Plus Insurance is available exclusively to members of the OMA or an Atlantic Association/Society who reside in Canada, as well as their spouses if the member applies under age 60.
  • Guaranteed coverage is available if you are under age 50, and apply for coverage within your first year of starting a medical practice in a covered province. You may be eligible for $50,000 of coverage without providing medical evidence. Coverage issued on this guaranteed basis will not be eligible for the 10% enhancements or waiver of premium.

The Underwriting Process

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

Obtain your application either online, or by calling us. Once completed, simply send the form and a void cheque back to OMA Insurance.
next step
Telephone Interview
A simple 20-30 minute call to review your health and work history. Please have attending physician and medication information handy, as well as financial documentation.
next step
Blood Chemistry Profile/Urinalysis
An appointment will be scheduled for a nurse to collect blood/urine samples - conveniently at your home or office.​
next step
Attending Physician's Statement
A medical statement may be needed. By ensuring your physician responds quickly, you can help accelerate the entire process. Additional information may also be required.
next step
Final Approval
It usually takes up to six weeks for the provider to process all the information and arrive at the underwriting decision.
​​next step
Issue Resolution
If you disagree with any part of the decision, you may appeal. Your OMA Insurance team will explain your situation, assist in helping you resolve any difficulties, or suggest alternative solutions.
Learn mor​e about what you ca​n expect during the underwriting of your application.

Risk-free, 30-day Free Look

We've designed this innovative plan with our members in mind. Apply today and, once approved, we'll send your Term Plus Life certificate. Review it at your leisure for 30 days with no obligation. If you're not completely satisfied with your coverage, simply return it without claim within that time period for a full refund of all premiums paid.

​​This stage, and every stage.

How to best protect your family's future may be one of life's most important decisions, but it needn't be complicated. OMA Insurance makes it easy to get the protection you need, for every stage of your life.


While the group plan described above has been specifically designed with physicians in mind, you may have circumstances that require an individual plan. Either way, your OMA Insurance advisor is here to help.


​OMA Term Plus Insurance group plan is underwritten by New York Life Insurance Company.

1 Unit values begin to decrease at age 66.

2 Non-smoker rates may be available if you have not used any tobacco, tobacco cessation products, marijuana, nicotine in any form or nicotine replacement products in the last 24 months. Non-smoker rates will be discontinued for any person who ceases to be a non-smoker according to New York Life's guidelines. 3 Waiver of Premium benefit is optional and is available on basic member coverage only. Premiums are not payable at age 59 or older and the benefit terminates at age 60.

Coverage will continue as long as (i) you pay your premium when due; (ii) you maintain membership in your association; (iii) the group policy remains in force; and (iv) if you are a medical student, you do not cease to be a full-time medical student without otherwise being eligible for membership in one of the sponsoring associations. Spousal coverage will continue as long as your coverage remains in effect, premiums are paid when due and the group policy is not modified.

This fact sheet is a summary of the major features of the group insurance program under policy G-29500. Complete terms are governed by the group insurance policy issued by New York Life Insurance Company, Canadian Chief Agency, 2100 Scotia Plaza, 40 King St. West, Toronto, Ontario M5H 3C2 on policy form GMR-FACE G-29500. New York Life has no right to cancel the group policy as long as premiums are paid when due.

Some conditions apply.