Insurance for Doctors

Life Insurance

The Term Life Insurance plan provides a tax-free lump sum amount upon your death. Design your life insurance to ensure your family or business can:
  • eliminate mortgage or debt
  • maintain a comfortable lifestyle
  • fund education or retirement
  • ensure business continuity
  • provide a charitable donation

Benefits for Physicians

Protect your family’s financial security.  In the event of your death, a tax-free, lump sum life insurance benefit is paid to your designated beneficiaries (i.e. spouse, children, corporation, etc.) to help cover living expenses, fund children’s education and eliminate debt. 

Doctors of BC Life Insurance Advantage

Flexible Coverage

Coverage amounts from $50,000 - $5,000,000 for each member and spouse

Competitive Rates

Competitive association rates exclusive to physician members and their spouses

Premium Refund

As Doctors of BC is a non-profit, member-focused organization, after two years of being insured, you may receive a partial refund of premium if the life policy accumulates surplus funds. Over the past 5 years, Doctors of BC has refunded life insured members over $5 million. 

Preferred Premium Pricing

You or your spouse may be eligible to receive reduced Preferred and Elite premium rates based on health and lifestyle. Applicants will automatically be considered for these rates when applying for coverage of $250,000 or more. 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

Conversion to permanent life insurance

The Doctors of BC Term Life plan expires at age 75. You may switch a portion or all of your term life plan, without proof of health, to Permanent Life insurance before age 70. Permanent Life insurance never expires and may be designed to grow in value. 

Optional Features

Future Insurability Option (FIO)

This feature that allows you to increase coverage without medical questions in increments of $50,000 up to $500,000 (subject to the overall plan maximum). FIO expires upon the first renewal after age 55.

If you are actively at work or on parental leave, you may apply to exercise the FIO increase within 60 days of one of the following events:

  • The successful completion of medical school or a residency program
  • The date of marriage or date of a common-law relationship 
  • The date of birth or adoption of a child of the insured member or insured spouse 
  • The date the inured member or insured spouse attains age 25, 30, 35, 40, 45, 50 & 55.  

Waiver of Premium  (WOP)

This feature allows you to not pay any premium for your Life coverage should you become totally disabled for 3 consecutive months before age 65. Premiums are not required as long as you continue to be totally disabled and will end on the premium due date on or after your 75th birthday. 

Find out More

Life Brochure.

Rates

Rates for members and spouses

How to Apply

Submit 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

Application Process

After submission of your application, if any proof of good health is required, you will be contacted 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 What to Expect during the application process.

Complimentary Advice

Book an appointment with a licensed, non-commissioned Doctors of BC Insurance Advisor to confidentially discuss your situation and learn what coverage is right for you.

Email insurance@doctorsofbc.ca or call 604-638-7914.

Benefits for Residents

If you pass away, your loved ones may be responsible for your line of credit, debt, or funeral expenses. Life insurance is a tax-free, lump sum amount paid to your designated beneficiary (i.e. parent, spouse, children, sibling, etc.) to financially assist the people who’ve supported your medical training. Life insurance is a less expensive alternative to line of credit bank insurance.

Special Resident Offer

Doctors of BC resident/fellow members may obtain $100,000 life insurance coverage, with no medical questions. Premiums for this coverage coverage typically range from $2-$5/month for most residents. The special offer is available even if you previously obtained Doctors of BC life insurance during medical school. 

Transition to Practice

Doctors of BC Life Insurance can continue to cover you in fellowship, practice and retirement anywhere in the world. Coverage automatically continues when you begin practice.

Additional Life Coverage

In addition to the Resident Offer, you may apply for up to $5,000,000 of life coverage. Proof of good health, typically a telephone interview, is required and premiums are charged once your coverage is approved. 

Your spouse or common-law partner is also eligible to apply for Life insurance. 

Doctors of BC Life Insurance Advantage

Flexible Coverage

Coverage amounts from $50,000 - $5,000,000 for each member and spouse

Competitive Rates

Competitive association rates exclusive to physician members and their spouses

Premium Refund

As Doctors of BC is a non-profit, member-focused organization, after two years of being insured, you may receive a partial refund of premium if the life policy accumulates surplus funds. Over the past 5 years, Doctors of BC has refunded life insured members over $5 million. 

Preferred Premium Pricing

You or your spouse may be eligible to receive reduced Preferred and Elite premium rates based on health and lifestyle. Applicants will automatically be considered for these rates when applying for coverage of $250,000 or more. 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

Conversion to permanent life insurance

The Doctors of BC Term Life plan expires at age 75. You may switch a portion or all of your term life plan, without proof of health, to Permanent Life insurance before age 70. Permanent Life insurance never expires and may be designed to grow in value. 

Optional Features

Future Insurability Option (FIO)

This feature that allows you to increase coverage without medical questions in increments of $50,000 up to $500,000 (subject to the overall plan maximum). FIO expires upon the first renewal after age 55.

If you are actively at work or on parental leave, you may apply to exercise the FIO increase within 60 days of one of the following events:

  • The successful completion of medical school or a residency program
  • The date of marriage or date of a common-law relationship 
  • The date of birth or adoption of a child of the insured member or insured spouse 
  • The date the inured member or insured spouse attains age 25, 30, 35, 40, 45, 50 & 55.  

Waiver of Premium  (WOP)

This feature allows you to not pay any premium for your Life coverage should you become totally disabled for 3 consecutive months before age 65. Premiums are not required as long as you continue to be totally disabled and will end on the premium due date on or after your 75th birthday. 

Find out More

Life Brochure.

Rates

Rates for members and spouses

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

Application Process

After submission of your application, if any proof of good health is required, you will be contacted 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 What to Expect during the application process

Complimentary Advice

Book an appointment with a licensed, non-commissioned Doctors of BC Insurance Advisor to confidentially discuss your situation and learn what coverage is right for you.

Email insurance@doctorsofbc.ca or call 604-638-7914.

Benefits for Students

If you pass away, your loved ones may be responsible for your line of credit, debt, or funeral expenses. Life insurance is a tax-free, lump sum amount paid to your designated beneficiary (i.e. parent, spouse, children, sibling, etc.) to financially assist the people who’ve supported your medical training. Life insurance is a less expensive alternative to line of credit bank insurance.

Special Student Offer 

Doctors of BC provides $100,000 of no-cost life insurance to full-time undergrad UBC medical student members enrolled in the plan, during all four years of school. There are no medical questions. You must apply for coverage.

Transition to Residency and Practice

Doctors of BC Life Insurance will automatically continue covering you in residency, practice and retirement anywhere in the world. A small premium is charged if you continue coverage.

Additional Life Coverage

In addition to the No-Cost Student Offer, you may apply for up to $5,000,000 life coverage. Proof of good health, typically a telephone interview, is required and premiums are charged once your coverage is approved. 

Your spouse or common-law partner is also eligible to apply for Life insurance. 

Learn More

Life Insurance Brochure.

Rates

There is no-cost for $100,000 of life coverage in all 4 years of medical school. 

If you apply for additional coverage, competitive association rates apply. 

Apply Now

Complete one of the following forms:

No-Cost $100,000 Life Insurance 1st Year Student E-Application

No-Cost $100,000 Life Insurance 2nd-4th Year Student Application

Additional Life Insurance Application 

Submit your completed form via:

  • Email: insurance@doctorsofbc.ca
  • Fax: 604 638 2909
  • Mail: Doctors of BC, Insurance Department, 115 – 1665 W Broadway, Vancouver, BC V6J 5A4

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

Learn What to Expect during the application process.

Complimentary Advice

Speak with Lisa Fincaryk, licensed Insurance Advisor, Early Career Specialist, to confidentially discuss your situation and learn what coverage is right for you.

Email insurance@doctorsofbc.ca or call 604-638-7914.