OMA Group Insurance

Atlantic Benefits Program: Health, Dental, Critical Illness

A benefits program for eligible physician members of NBMS, NLMA and MSPEI. This bundled plan consists of $50,000 Group Critical Illness (CI) and Health or Health Plus (coverage for prescription medications, massage, chiropractor, vision care etc). No medical evidence is required for new NBMS physician members who enroll within ninety days of receiving their personalized offer. Members may also apply for optional coverage such as Dental, Dental Plus and additional Group CI for yourself and your spouse.

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

Visit OMAinsurance.com for further details.

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 that carries through 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

Visit OMAinsurance.com for further details.

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.