Important update
OMA Insurance recently transitioned the program to Manulife. To ensure policyholders were informed about the transition, OMA Insurance hosted a member forum, where the OMA Insurance leadership team and their partner, Manulife, provided answers to the most pressing questions from policyholders. To receive a copy of this video, please contact info@omainsurance.com.
If you need assistance creating your Manulife ID and/or accessing the details of your insurance coverage, you can view the Transition page to get answers to common questions and to learn how you can be supported with the change to Manulife. If you have specific policy questions or have not received a welcome package, please contact OMA Insurance’s dedicated contact center at 1-888-596-8881, or email more_info@manulife.ca.
Coverage for Practising Physicians
OMA Group Insurance
Group Critical illness insurance: Receive a tax-free lump sum benefit of up to $250,000 for member and spouse, when you survive a diagnosis of one of 25 illnesses, including heart attack, stroke, and cancer. You may use these funds as you see fit, helping you and your family with the additional expenses that accompany a critical illness.
Group Disability insurance: Disability insurance is a simple and cost-effective way of providing a steady flow of tax-free income during a period of disability. Your OMA disability insurance plan is designed to keep pace with your needs throughout your career with physician-specific coverages to protect you from the financial impact of sickness or injury with up to $25,000 per month of coverage.
Group Life insurance: OMA Insurance has life insurance solutions to suit every stage of your life and career, with coverage available for member and spouse from $100,000 to $3,000,000.
- Flex Term 10 & Flex Term 20
- Term Life Plus 75
NEW Permanent Life and Individual insurance products
Understanding that OMA members’ needs evolve over time, we have further enhanced our OMA Insurance platform to include individual insurance products. We offer Permanent Life insurance products. Our knowledgeable OMA insurance advisors can provide you with unbiased advice and assist based on your unique life insurance needs.
Additional Individual insurance products can be purchased to complement our group products or bought on their own. An individual insurance product provides members with the ability to own their policy contract directly with the insurer.
Our platform of individual insurance offerings includes life insurance, disability, long-term care and critical illness products from reputable insurers. Through a robust due diligence process, we select the best-in-class insurance partners to bring our member options when reviewing their insurance needs. Below you will find a list of our preferred partners and links to more information on their life insurance and living benefit products.
Our individual (third party) insurance partners:
Canada Life: Products include life, critical illness and disability
Canada Protection Plan: Offerings include simplified life and simplified critical illness insurance
Hunter McCorquodale: Coverage includes Special Risk Life, Disability and Personal Accident insurance
Industrial Alliance: Products include life and disability insurance
Manulife: Coverage includes life insurance, critical illness, disability insurance and Manulife Synergy
MyDignity: Home care/long term care insurance
RBC Insurance: Offerings include life, critical illness, and disability insurance
Sun Life: Products include life and critical illness insurance
Coverage for Students and Residents
Essentials for students/residents: Medical school is expensive. This unique offer features discounted disability rates, plus complimentary life insurance while in medical school. Your disability benefits will automatically increase as you progress through medical school, from $2,000 during your first year up to $4,500 in your fourth year and will continue throughout residency.
- $200,000 of complimentary life insurance while in medical school.
- 75% discount on disability insurance premiums until the end of medical school.
- No medical questions or exams if you apply as a first-year medical student. Simplified underwriting will be required in subsequent years.
- Portable worldwide and automatically transitions with you into residency and practice.
Coverage for Physicians Transitioning to Practice
Essentials for Physicians: Given the demands that the post-residency period brings, the “Essentials for Physicians” offer gives residents the ease and flexibility to choose all or a combination of life, disability, and professional overhead expense insurance.
- Up to $5000/month of professional overhead expense insurance with a 50% discount on premiums for your first two years of practice
- Up to $11,000 monthly disability insurance benefit
- $200,000 of Group Term life insurance
- Worldwide portability
- A simple application process if you enroll within 120 days of successfully completing residency.
Visit OMAinsurance.com for further details.
Contact your local advisor
Jennifer Lovegrove
Regional Insurance Advisor
1-800-268-7215 ext. 2898
Jennifer.lovegrove@oma.org