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Dec. 19, 2023
Terri Favro

OMA Insurance helps protect your personal, professional well-being

As a physician, your life is devoted to caring for the health and wellness of your patients. Practicing medicine is your priority. But you also need the security of knowing that your income, family, assets, and professional practice are being protected.

That is why membership in the Ontario Medical Association provides access to insurance designed to meet the unique needs of health-care professionals. It is one more way that the OMA is looking out for you.

We have always understood that physicians need someone to look after their best interests. That is why OMA Insurance was founded back in 1956 as a wholly owned subsidiary of the OMA. At that time, few physicians could imagine the world we live in today. That is why it is important that our program continues to evolve, innovate, and grow along with the needs of our members.

Our not-for-profit insurance program is solely focused on the specialized needs of physicians, which means you receive unbiased advice from our team of licensed advisors.

Today, more than 80 per cent of OMA members have entrusted us to protect them, both personally and professionally. That is a great vote of confidence, and one we will work hard to keep building.

"We have licensed insurance advisors across Ontario and Atlantic Canada who are able to support members with any of their insurance needs,” explains Preya Singh-Cushnie, senior director, OMA Insurance. “We will meet with our members in-person or talk to them to assess their insurance planning needs.

“We're at events, we are in the community, we are at the hospitals and clinics. Our goal in 2024 is to do a lot more outreach in the communities where our members work. Knowing you can self-serve is great, but we have a whole team available to speak with you."

All our advisors are life Insurance licensed, and some are also chartered professionals in underwriting health and financial planning, which means we can provide a full review of your insurance and retirement needs. “Our staff is here to do what’s best for you,” says Singh-Cushnie.

What sets OMA Insurance apart?

As a not-for-profit insurance distribution agency, our platform is self-funded. The money we earn is reinvested into our programs. If we make more money than we spend, we distribute the surplus to eligible products and eligible policyholders at the end of each year through our premium refund program." Our structure allows us to remain unbiased with the options we provide. Our recommendations are solely based on the needs analysis process that provides insights into the personal financial goals of the member,” Singh-Cushnie said.

If you are covered by our group insurance program, you are benefitting from discounted premiums, up front.

Full-service group, individual coverage available

Through OMA Insurance, you and your family can enroll in both group products or individual life and living benefit products, which are customized to your needs by an expert insurance advisor.

We work with trusted Canadian insurers to bundle products that protect you, your practice, your family, and your income at every stage of your life and career. They include:

  • Extended health and dental coverage
  • Home and Auto Insurance
  • Term and Permanent life insurance products
  • Disability and critical illness insurance
  • Travel Insurance coverage
  • Office/Clinic insurance products to protect your office, equipment, and professional income
  • Cybersecurity insurance, and much more

OMA Insurance coverage moves with you

OMA Insurance is now licensed across all provinces in Canada (except Quebec) to provide insurance advice and support to OMA members who have OMA insurance coverage and choose to live/ work in another province in Canada. We are excited to be able to extend our advice to members as they pursue their profession outside of Ontario.

Contact us or email or call 1-888-596-8881 option 2, to speak to an OMA Insurance advisor.