Canadian Federation of Medical Students
The Canadian Federation of Medical Students has endorsed a disability insurance program through RBC Insurance designed specifically for the needs of medical students. It is a career plan, as it provides protection not only during medical school, but also throughout residency and into full-time practice. There is no requirement to remain a member of any association and the policy is portable worldwide.
This is not group or association coverage but an individually owned policy, non-cancelable by the insurance company. This policy includes a 25% discount that is applied not only to the base policy, but also to all future increases that are made to the policy throughout your career. Rates and policy language are guaranteed* until age 65, after which time the policy is renewable for life as long as you remain actively employed at least 30 hours a week.
Student business overhead and critical illness insurance is also available.
*Health Care Rider premium of $0 is not guaranteed.
What Makes The CFMS Plan Valuable?
- 5 months free coverage
- 25% discount for life, applicable to the base contract and all future benefit increases
- Simple one page enrolment form
- No medical requirements - four simple questions
- Career plan, which offers you top notch protection through medical school, residency and practice
- Ability to add the own occupation rider anytime between now and 6 months after the end of residency without medical evidence
- Upgradable Future Insurance Options (FIO) which allows you to choose a small annual FIO amount and increase it to up to $3000 anytime between now and 6 months after the end of residency without medical evidence
- Option of Level or Graded Premium
- Can increase your policy up to $25,000/month over the life of your career
- Fully guaranteed Professional contract
- Can purchase a small upgradable policy in addition to any association coverage taken
What are the Benefits of an Individual Professional Contract?
- Worldwide Portability
- 90 Day elimination period with benefits payable until age 65
- Annual options to increase coverage without medical evidence until age 55
- Cost of Living Rider
- Health Care Rider
- Recovery Benefit
- No Integration of benefits if your income is reduced or of you receive benefits elsewhere
- Ability to convert to Long Term Care insurance in the future offering life long protection
- 24 month pre-existing Student business overhead and critical illness insurance is also available.
How Much Coverage am I Eligible for?
- 1st and 2nd year medical students: $1500
- 3rd year medical students: $2500
- 4th year medical students: $4000
- Residents: $4000
- Fellows: $7500
- Final year residents or 1st year practitioners: $6500
- Final year residents or 1st year practitioners in specialty: $9000
For more information about CFMS, you can visit the official home page of CFMS. You can also visit our CFMS FAQ page.
How do I Enrol?
To enrol, print off an application and fax the completed form to 519-667-0116 with a copy of a void cheque.* Please contact our office to request a quote and discuss the various options available to you.
CFMS Application
*A cheque for the first month’s premium must be submitted with the enrolment form to obtain the 5 months of free coverage.
Access Your Guide Online!
|
