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Term Life Plus 75

Protect yourself with Term Life Plus 75 Insurance. Image

Protect yourself with Term Life Plus 75 Insurance.

You work hard to protect the health of others, but what about protecting yourself?

Coverage designed just for you.

Group Term Life Plus 75 Insurance offers security to help your family repay debt and final expenses while providing a cushion for their future expenses. The Term Life Plus 75 program has a unique feature that reduces your coverage amount at age 75 with no further payments required.

The benefits of Term Life Plus 75 insurance

Increased coverage amount with no medical evidence.

Your original insurance coverage amount will automatically increase by 10 per cent every year up to 10 years after purchase with no medical questions required if you are under age 60, provided your additional premiums are paid, and you do not request a decrease in coverage. You may end this feature anytime, but once declined, it cannot be reinstated.

Coverage until age 75

OMA’s Term Life Plus 75 insurance is coverage that keeps pace with your lifestyle, increasing in value when you need it. Beginning at age 66, when your expenses typically decrease, this coverage will reduce each year until age 74. Premiums do not reduce. After completing the reduction of coverage amount, 10 per cent of your overall coverage will remain in place, and with no further payments to make.

Personal and spousal coverage

Enjoy coverage for you and your spouse up to $1,000,000 each, provided you are both under age 60. Coverage becomes effective on the date your insurance application is approved and premiums are paid. Spousal coverage will continue in the event of your death. Additional coverage may be available through other OMA insurance policies that you apply and pay for (up to a combined $5,000,000).

Worldwide portability

If you leave Canada, your insurance is portable anywhere in the world, as long as you are a member of an eligible association/society.

Frequently asked questions

OMA Term Life Plus 75 insurance is available exclusively to members of the OMA or an Atlantic medical association/society who reside in Canada, as well as their spouses if the member applies under age 60.

Residents of Quebec are eligible if:

  1. They practice or study outside of Quebec but still reside in Canada
  2. The application was signed in a province or territory other than Quebec
  3. The certificate and all other communications are delivered in a province or territory other than Quebec

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.

Premiums in excess of claims, expenses and reserves may be refunded. While past performance does not guarantee future results, over the past 10 years they have averaged more than 50 per cent of annual premiums.

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 Term Life Plus 75 insurance coverage. Learn more about optional AD&D coverage.

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

Individual insurance

Individual life and living benefits

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

Special offer

Essentials Offer

The Essentials Offer is designed to give you the flexibility to combine coverage plans that continue throughout medical school, residency and into your practice, including Group Term Life Insurance, Disability Insurance and Professional Overhead Insurance.

View the Essentials Offer

Get a quote

To learn more, including information on eligibility, renewability, limitations and exclusions, and to get a quote, simply contact OMA Insurance at info@omainsurance.com or 1-800-758-1641, or use the rate calculator.


This information is a summary of the major features of the group insurance program under policy G-29500. 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-29500. New York Life has no right to cancel the group policy as long as premiums are paid when due.

Some conditions apply.

SMRU#1813076