Disability Insurance Guaranteed Insurability Benefit
Once each year, you have the opportunity to increase your coverage — no medical questions asked.
When you purchased your disability coverage you may have also paid for the Guaranteed Insurability Benefit (GIB) rider. If you have the GIB rider, you have the right to increase your coverage once a year with no medical questions asked, based on your earned income, but only between May 1-31.
Financial documents
Financial verification is not required for:
-
Residents (to a maximum monthly benefit of up to $3,500 from all sources, under policy 59997)
-
Physicians in their first two years of practice (up to a $8,500 monthly benefit for family medicine practitioners and $11,000 monthly benefit for specialists)
Financial verification is required for all other GIB applications. To speed up the processing of your application, please complete the “Financial documentation” section and either provide your authorization or submit the required documents along with your application.
How much disability coverage do you need?
To help calculate the coverage you’ll need, refer to the Disability Insurance Benefit guide.
Based on your earned income, practising physicians may combine OMA Insurance and other disability insurance for a total coverage up to $25,000 per month.
Your application must be received by May 31.
If you have any questions, contact us at 1-800-758-1641 or info@omainsurance.com
Need advice? Our expert insurance advisors are here to help.
Information for Residents
If you are a Resident and have your disability coverage under policy 59997, the maximum monthly benefit is $3,500. Residents covered under policy 17849 are not eligible for the GIB.
OMA Disability Insurance is underwritten by Sun Life Assurance Company of Canada. Sun Life Assurance Company of Canada is the insurer of this product and is a member of the Sun Life group of companies. For inquiries, please call Sun Life’s Client Care Centre at 1-800-758-1641, Monday to Friday, 8 a.m. to 8 p.m. ET. or visit www.sunlife.ca.
For complete details regarding coverage, please see the terms and conditions of Policies 59997, 17849 and 140004. If there is any conflict between this document and the wording of the policies (or the certificate), the wording of the policies will govern. A copy of the policy may be requested.
Premium rates and discounts are not guaranteed and are subject to change upon notice.
Exclusions and limitations may apply.