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
Coverage amounts from $50,000 - $5,000,000 for each member and spouse
Competitive association rates exclusive to physician members and their spouses
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.
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
How to Apply
Submit completed application form via email, fax or mail.
- Scan & Email:
- Fax: 604 638 2909
- Mail: Doctors of BC, Insurance Department, 115 – 1665 W Broadway, Vancouver, BC V6J 5A4
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
- Paramedical Exam
Learn What to Expect during the application process.
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.