Issue limits and discount can vary by insurance company. Below is the maximum amount of coverage you can receive as a resident without regards to income.
- Resident – $4000
- Fellowship – $7500
- First year practicing physician – $6500
- First year practicing physician in a specialty - $9000
Discounts are available with RBC (15% with 5 months free), 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.
What about PAIRO*?
*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.
What health insurance is available once I lose my resident coverage?
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.
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