Medical Students

INCOMEprotect™ for Students

Benefits for Students

Doctors of BC INCOMEprotect™ for Students is an enhanced disability plan that protects you in school, residency in Canada and practice worldwide. The Doctors of BC physician board strongly believes that future doctors should be protected throughout their medical journey. Doctors of BC proudly pays $130,000 annually for student insurance premiums so the plans are available at no-cost to UBC medical students.  

Special Offer

If you are a UBC medical student, you may apply for INCOMEprotect™ for Students and $100,000 Life insurance without medical questions. You are not automatically covered and must enroll in the plans.

INCOMEprotect™ Advantage

NO COST COVERAGE AS STUDENT

Premiums for students in years 1 - 3 and premiums for students in year 4 under the $2,500 monthly benefit option are paid for by Doctors of BC.

Fourth year students who elect to increase coverage from $2,500 to $4,000, are charged a nominal fee, as listed below.

NO-MEDICAL ELIGIBILITY FOR BC GOVERNMENT-FUNDED PHYSICIANS’ DISABILITY INSURANCE

If you begin practice in BC, you may be eligible to enroll in Physicians’ Disability Insurance (PDI), a negotiated benefit that is managed by Doctors of BC and government funded. By keeping at least $2,000 of INCOMEprotect™ in residency and fellowship, you will be eligible for PDI without medical questions if you begin practice in the province.

COMPETITIVE RATES IN RESIDENCY AND PRACTICE

Doctors of BC pays your premiums so there is no cost to you as a medical student. In Residency and Practice, Doctors of BC significantly discounts your plan cost. Rates are designed to be lowest in earlier years so you can reduce debt and build savings. INCOMEprotect™ premiums slowly increase in 5-year age bands as rising earnings and inflation continue to make premiums affordable. This premium structure follows the concept of present value - that a dollar paid today is not worth as much as a dollar paid in the future. This premium structure differs from alternative individual plans with level premiums that start at much higher rates.

FLEXIBLE COVERAGE

Included Features

GUARANTEED INSURABILITY RIDER

• Guarantees you can increase your coverage later, regardless of changes in your health.

COST OF LIVING ADJUSTMENT RIDER (COLA)

• Ensures your coverage keeps up with the rise in the cost of living, increasing your monthly benefit according to the National Consumer Price Index, up to 3%,
• COLA applies if you’ve been disabled for 12 consecutive months, and continues each year you remain disabled until you’re 65.

Optional Features In Residency and Practice

OWN OCCUPATION RIDER

• Helps protect your earning power when you are totally disabled. You are considered to be totally disabled from your regular occupation and entitled to full disability benefits – even if you choose to work and earn income in another job with different duties. 

RETIREMENT PROTECTION RIDER

• Helps keep your retirement plan on track by providing a $500 monthly contribution to an investment account while you are disabled.

Find out More

INCOMEprotect™ for Students Plan Brochure

Speak with Lisa Fincaryk (Email: View Email Addresslfincaryk@doctorsofbc.ca), Insurance Advisor, Early Career Specialist, to confidentially discuss your situation and learn what coverage is right for you.

Rates

There is no cost to students for coverage. If a 4th year student elects to increase coverage from $2,500 to $4,000 monthly benefit, annual premiums are listed below. Options are provided in the chart below.

How to Apply

First-Year Medical Students – Submit the Online First-Year Membership and Student Insurance Application Form

Other Medical Students – Submit the Student Insurance Form

Application Process

There are no medical questions or tests. There is a pre-existing condition limitation that applies during the first 12 months of coverage. This means that you may not be covered for a disability that results from a health condition you had, whether diagnosed or not, during the 12 months following the effective date of your coverage under this plan. This limitation no longer applies after your coverage has been in place for 12 months.

Transitioning to Residency?

Upon completion of medical school, existing Doctors of BC INCOMEprotect™ for Student coverage must be switched to the INCOMEprotect™ for Residents plan. If you switch your coverage within 90 days of graduation you will have an opportunity to: 

• Increase coverage
• Customize features and riders

Options Form for UBC Medical School Graduates with existing Doctors of BC INCOMEprotect™ coverage (Please submit within 90 days of graduation).

Speak with a non-commissioned Doctors of BC Insurance Advisor before you transition to understand your options. 

Email View Email Addressinsurance@doctorsofbc.ca.

How to Make a Disability Claim

Read the Claims Guide for instructions on how to submit a claim.

Complimentary Advice

Speak with Lisa Fincaryk, Insurance Advisor, Early Career Specialist, to confidentially discuss your situation and learn what coverage is right for you. Doctors of BC Insurance Advisors do not receive any commissions to ensure you receive objective financial education.

Book a free appointment with Lisa Fincaryk
Email: View Email Addresslfincaryk@doctorsofbc.ca