Insurance for Doctors

Life Insurance

Term Life Insurance helps protect the financial security of your loved ones if you should pass away suddenly or unexpectedly and could no longer provide for them. Your Term Life coverage is paid to your beneficiary in the form of a tax-free lump sum amount you choose. Life insurance can help your family continue to enjoy their current lifestyle and move forward with their life goals. 

Practicing Physicians
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Coverage amounts from $50,000 - $5,000,000 are available for you and your spouse. Read the Plan Brochure for details.

Premium rates

You and your spouse may be eligible to receive valuable savings with Preferred and Elite premium rates. These offer lower premiums to healthier, low risk individuals, who apply for at least $250,000 of coverage. You and your spouse will automatically be considered for these rates when applying for coverage under this plan. The following factors will be considered to determine if you qualify for Standard, Preferred or Elite rates: 
  • Tobacco use
  • Physical build
  • Cholesterol level
  • Blood pressure
  • Personal and family medical history
  • Recreational activities
  • Driving record

Already enrolled? Important considerations:

 
FUTURE INSURABILITY OPTION (FIO)

If you opted to include the FIO rider in your coverage, be aware of the opportunities you have to increase your coverage without having to provide proof of good health. If you exercise your FIO rider at the right times, your coverage can be increased in increments of $50,000 up to $500,000 (subject to the overall plan maximum of $5,000,000). FIO cancels at the first renewal beyond age 55.

In order to exercise the FIO increases you must be actively at work or on a parental leave.

You may apply to exercise the FIO increase within 60 days of one of the following events:

  • Graduation from medical school and currently in or starting a residency program in Canada or the United States
  • The date of marriage or date of a common-law relationship as defined in the policy
  • The date of birth of a child of the insured member or insured spouse or the date of legal adoption of a child
  • The successful completion of a medical residency program
  • The date the inured member or insured spouse attains age 25, 30, 35, 40, 45, 50 & 55

To take advantage of your FIO increase, please fill in the application form. If you need any assistance in the completion of this form, contact an Insurance Administrator at 604 638 29044.

CONVERSION TO PERMANENT LIFE INSURANCE

As you age, your need for term insurance generally decreases as the family matures, loans are repaid and savings increase. You may want to consider taking advantage of the conversion feature of the Doctors of BC Life Insurance plan, and convert from Term insurance to Permanent Life insurance. Permanent insurance premiums tend to be higher than term insurance when you are younger, but will be lower than term when you are older, depending on the type of plan you choose.​

How to apply

Submit completed application form via email, fax or mail.

Scan & Email: insurance@doctorsofbc.ca 

Fax: 604 638 2909

Mail: Doctors of BC, Insurance Department, 115 – 1665 W Broadway, Vancouver, BC V6J 5A4

Proof of good health

After submission of your application, if any proof of good health is required, we will contact you to make arrangements at no cost to you. Depending on your age, health and the amount of coverage being applied for, you may be required to provide one or more of the following: 
  • Telehealth phone interview
  • Blood and urine
  • Vitals
  • Paramedical Exam
  • ECG

Learn more about what to expect during the application process, and find out details on your lab results here.

Resident Physicians
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Special offer

Doctors of BC resident members may obtain $100,000 in life insurance coverage, without providing proof of good health. Additional life insurance coverage beyond the additional $100,000 is available; however, you will be required to submit medical evidence of good health in order to be approved for coverage. This offer is available at any time during your residency, and can be added on top of previous Doctors of BC Student Life insurance. This offer does not apply to spouses. 

Premium rates

You and your spouse may be eligible to receive valuable savings with Preferred and Elite premium rates. These offer lower premiums to healthier, low risk individuals who apply for at least $250,000 of coverage. You and your spouse will automatically be considered for these rates when applying for coverage under this plan. The following factors will be considered to determine if you qualify for Standard, Preferred or Elite rates: 
  • Tobacco use
  • Physical build
  • Cholesterol level
  • Blood pressure
  • Personal and family medical history
  • Recreational activities
  • Driving record

Already enrolled? Important considerations:

If you opted to include the FIO rider in your coverage, be aware of the opportunities you have to increase your coverage without having to provide proof of good health. If you exercise your FIO rider at the right times, your coverage can be increased in increments of $50,000 up to $500,000 (subject to the overall plan maximum of $5,000,000). FIO cancels at the first renewal beyond age 55.
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In order to exercise the FIO increases you must be actively at work or on a parental leave.
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You may apply to exercise the FIO increase within 60 days of one of the following events:
  • Graduation from medical school and currently in or starting a residency program in Canada or the United States
  • The date of marriage or date that a common-law relationship as defined in the policy
  • The date of birth of a child of the insured member or insured spouse or the date of legal adoption of a child
  • The successful completion of a medical residency program
  • The date the inured member or insured spouse attains age 25, 30, 35, 40, 45, 50 & 55
To take advantage of your FIO increase, please contact an Insurance Administrator 604 638 2904.

To apply for Life Insurance

  • To apply for $100,000 without proof of good health contact an insurance administrator at 604 638 2904.
  • To apply for excess above $100,000, submit your completed application form via email, fax or mail.
    • Scan & Email: insurance@doctorsofbc.ca
    • Fax: 604 638 2909
    • Mail: Doctors of BC, Insurance Department, 115 – 1665 W Broadway, Vancouver, BC V6J 5A4​

Proof of good health

After submission of your application, if any proof of good health is required, we will contact you to make arrangements at no cost to you. Depending on your age, health and the amount of coverage being applied for, you may be required to provide one or more of the following: 
  • Telehealth interview
  • Blood and urine
  • Vitals
  • Paramedical Exam
Medical Students
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Doctors of BC will provide no-cost coverage to full-time undergrad med students who are members, and who apply for the Student Life Insurance during all four years of medical school. 
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Once you apply, you will be insured for $100,000 of Term Life insurance without having to provide medical proof of good health In the event of your death, your coverage amount will be paid to your designated beneficiary.
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Additional life insurance coverage beyond $100,000 is available; however, you will be required to submit medical evidence of good health, and pay the related premium once your coverage is approved. 
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Your spouse is also eligible to apply for Life insurance. Contact a Doctors of BC Insurance Administrator for more information.

Find out More

 
For details on the Student Insurance plans see the Student Brochure.

To apply for Term Life Insurance

To apply for Student Life Insurance without medical evidence contact an insurance administrator at 604 638 2904.
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To apply for excess above $100,000, submit your completed application form via email, fax or mail.
  • Scan & Email: insurance@doctorsofbc.ca (link sends e-mail)
  • Fax: 604 638 2909
  • Mail: Doctors of BC, Insurance Department, 115 – 1665 W Broadway, Vancouver, BC V6J 5A4​

Medical evidence of good health

If you are applying for coverage beyond $100,000, medical evidence of good health is required after you submit your application. We will contact you to make arrangements at no cost to you. Depending on your age, health and the amount of coverage being applied for, you may be required to provide one or more of the following: 
  • Telehealth interview
  • Blood and urine
  • Vitals
  • Paramedical Exam​
  • ECG

Coverage considerations as you transition from medical school to residency

Your Student Life Insurance will automatically transition to Resident Life Insurance when you complete medical school. At that time, you will be prompted with an opportunity to elect additional coverage and Riders at the transition point.