Residents


  • Resident – $4,000/month
  • Fellowship – $8,000/month
  • First year practicing physician – $6,500/month
  • First year practicing physician in a specialty – $10,000/month

Discounts are available with:

  • RBC (15% with 5 months free),
  • Manulife (15%),
  • Great West Life and Canada Life (25%).

The contracts with these companies are all of a professional nature, however differences do exist. Speak with your insurance representative to determine which is best for you.
If you have an existing policy, speak to us about how you can increase that policy to the maximum residency limit. If you do not have a policy, be sure to contact us before the end of residency to ensure your eligibility for a lifetime discounted premium.

Application must be made within 6 month of graduating residency in order to be eligible.

* Other provinces provide similar benefits. There may be some differences from what is outlined below.

PAIRO is the Professional Association for Interns and Residents of Ontario that provides health benefits and includes a mandatory disability plan. The disability policy provides for 70% of your resident salary to continue in the event of a disability. There are substantial differences between the PAIRO contract and an individual one. Careful attention should be paid to disability contracts since they dictate how you get paid, when you get paid, and for how long. Please consult an insurance representative for more information on the contractual provisions.

The disability policies that Zavitz Insurance recommends to medical residents do not include an integration provision that would reduce disability benefits at time of claim should benefits become payable from other sources. This means that regardless of what PAIRO pays at time of claim, your individual policy would continue to pay 100%. As a resident, your income is not that of a physician and you are relying on this future income potential to pay off accumulated debts and provide the lifestyle you envision for yourself and your family. If a disability strikes during residency, having both benefits paid at time of claim would provide for additional income that would enable you to pay off your debts and cover living expenses, while having some money left over.

If you plan to practice outside of Ontario, please consult our Products and Services section to view the options available.

If you will continue to practice within Ontario, there is a plan available called the Ontario Priority Insurance Plan that can be integrated with a Health Care Spending Account to provide comprehensive health coverage. For details on how this works, please see our section on OPIP/Health Spending Account.

Yes, coverage can be carried anywhere in the world.

Premiums are based on your age, gender, smoking status and the applicable discount. If you pose a higher than standard risk, an additional premium could be applied.

There are many riders available, however the most popular amongst the residents are the cost of living rider, own occupation, future earnings protector (or future insurance options) and health care rider. Some additional options include return of premium, lifetime accident and graded sickness and retirement protector. For the definitions of these riders, please see our products and services or ask your insurance representative.

Yes, you can elect the amount of coverage you would like (up to the maximum issue limit). A smaller inexpensive policy can be purchased while in school, with a special option upon graduation to increase your coverage the fellowship or first year practice level. You can also choose the premium structure (Level or Graded) and which riders you wish to add to the policy (please see above for more information on riders available).

Yes, there are various offers which provide a 15-25% discount and the ability to increase your coverage upon graduation. Practicing physicians are often not able to obtain this discount and can only increase coverage on their policy anniversary date.

The discount lasts as long as you maintain the policy. It is applied not only to the initial amount purchased, but also to all future increases made to the policy which results in substantial savings over your working career.

Yes, wording and pricing are guaranteed. The insurance company cannot change pricing or terms of your insurance until after age 65. The only exception is the Health Care Rider which currently has no premium. However, if the insurance company experiences significant claims, they can choose to charge a premium for this benefit.

You have until 6 months after you graduate residency to obtain the discounted premiums.

There are substantial contractual differences between association plans and individual coverage. Contractual differences are significant to disability policies as the contract dictates how you get paid, when and for how long. The major discrepancies outside of the contract are that associations typically do not offer guarantees to contract or premium, nor do they have a representative to assist you when you need to increase your coverage or make a claim. To go through these differences in more detail please ask your representative.

Now. You should apply for coverage while you are a student in order to lock in the contract and premium rates. You also have no idea what the future holds for you, so getting coverage when you are most healthy is always recommended.

  • Disability insurance needs to be increased using the special option available upon graduation. Fellows can obtain $7500/m, GP’s $6500/m and specialists $9000/m. If you have the CFMS plan which was offered in Medical School, you have the option to add own occupation without medical evidence, and increase the amount of your annual options up to $3000/m.
  • If you are starting in practice and are responsible for office overheads, you should consider business overhead insurance. This reimburses eligible overhead expenses in the event of a disability to keep your office running. It is available for graduating residents with a discount and 5 months free coverage.
  • You will also lose your PARO health insurance, so you need to look at replacing this. If you are planning to practice in Ontario, the province offers the Ontario Priority Insurance Plan to physicians working an average of 15 hours a week. If you are planning to practice outside of Ontario, you will need to look into individual health care plans. For see our sections individual health plans or OPIP / Benecaid for more information.

It you have loans, a mortgage or dependants you should be looking to obtain life insurance. For more information on the coverage available, please visit our products and services or speak with your insurance representative.

Critical Illness insurance will pay a lump sum benefit upon diagnosis of one of the covered illnesses (approximately 20 included). Many policies include an optional return of premium provision which allows for a refund of 100% premiums paid if you do not make a claim on the policy. As a resident you are eligible for 5 months free coverage as a resident with RBC Insurance. For more information on critical illness insurance, please visit our products and services or speak with your insurance representative.