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Flex Term Life

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Get the financial protection you need.

OMA Group Flex Term Life Insurance ensures you have the right insurance coverage to maintain your family’s lifestyle in the event of your death.

Stability with flexibility.

We understand that one of the most important decisions you’ll make is how you choose to protect your family’s lifestyle in the event of your untimely death. OMA Insurance provides OMA members with life insurance options so they can make the best choice.

OMA Flex 10 and Flex 20 Level Group Term Life Insurance1 are designed to give you the coverage you need with member-only pricing and flexibility. Whether you’re targeting shorter-term commitments upfront, seeking long-term protection, or both, OMA Insurance advisors are available to help you create a plan that meets your financial protection needs today, tomorrow and for the future.

The benefits of Flex Term Life

Flexible and convertible coverage

OMA Insurance coverage is available from $100,000 to $3,000,000 for both OMA Flex 10 and Flex 20 policies. Before reaching the age of 65, you have the option to convert all or part of your coverage to Group Level Term to Age 100 coverage without medical evidence.

Locked-in rates

For the first 10 years of the Flex 10 and 20 years for the Flex 20, your rates are level and guaranteed not to increase, regardless of changes to your health. After 10 years for the Flex 10 and 20 years for the Flex 20, you can re-examine your coverage options at guaranteed rates.

Immediate interim coverage

You may be eligible for immediate interim coverage while your application is being processed.

Child dependent rider

Optional life insurance coverage for your dependent children with no medical evidence required.

Need advice? Our expert insurance advisors are here to help.

Individual insurance

Life happens, and this is why OMA Insurance offers living benefits such as Disability and Critical Illness insurance: to help you plan for the unexpected.

Learn more about individual life and living benefits

Frequently asked questions

OMA Flex 10 and Flex 20 Life Insurance is available exclusively to members of the OMA or an Atlantic medical association/society and their spouses, who reside in Canada (excluding Quebec) and are under the age of 65 for Flex 10 and age 55 for Flex 20.

Should you become totally disabled before age 60 and remain totally disabled for 180 consecutive days, premiums may be waived for as long as you remain totally disabled.

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

OMA offers optional life insurance coverage for your dependent children with no medical evidence required.

This coverage is available for purchase, as a rider to your life insurance policy, and can be added as early as 24 hours after birth to 25 years of age. You can add up to 10 per cent of your life insurance face amount to a maximum of $25,000 for each child.

You only need to add the coverage once to cover all of your dependent child/children. Coverage will remain in force until your child turns age 25 or your life insurance policy terminates.

Get a quote

Coverage is simple and the premiums are exclusive to members. Rates depend on a variety of factors such as gender, age and smoking status. To learn more, including information on eligibility, renewability, limitations and exclusions, and to get a quote, simply contact us or call 1-888-596-8881, or use the rate calculator.

1 If you are not completely satisfied with your coverage, simply return it without claim within the 30-day risk-free, free look period for a full refund of all premiums paid.

This information is a summary of the major features of the group insurance program under policies G-29700 and G-29800. It is intended for general guidance and is not a contract. If any discrepancies exist between this information sheet and the issued policy or certificate, the latter shall prevail. The complete terms, conditions, limitations and exclusions governing the OMA Life Insurance coverage can be found on your Certificate of Insurance and in the relevant group insurance policy issued by New York Life Insurance Company, Canadian Chief Agency, Toronto, Ontario M5H 3C2 on policy form GMR-FACE G-29700 and G-29800. New York Life has no right to cancel the group policy as long as premiums are paid when due.

Some conditions apply.