Association Based Life Insurance Plans for Doctors

Doctors demand action
If you're a doctor
Association Coverage is there,
but is it the best?

Many doctors in Canada will argue they are underpaid and when compared with the US counterparts its hard to argue.  But the average GP in Canada still takes home about $79 an hour and average specialist about $117 an hour.  So what is the best way to protect that income especially if you die while your family is counting on your income.

Association based life insurance plans offer convenience in fact many of these plans offer basic amounts of coverage without a medical.  They also have the convenience of an easy enrollment process.  But is it the best coverage?.

Individual Life Insurance policies offer many very significant benefits when compared with Association plans.  

1. The coverage can be maintained if you retire and are no longer a member of the association.

2. Term Life premiums can be guaranteed for as long as 40 years this is a much higher premium than found in association based plans.

3. Preferred rates are available to Doctors in very good health with very good family health history.  Preferred rates are not available on association group life plans.  This can translate into savings of up to 35%

4. Permanent policies are available with rates level for life.  In fact some Permanent plans can even be paid up in a limited number of years.

5. Higher coverage limits are available for higher income earners. As any added benefit many insurance companies offer price discounts to Doctors who take out policies with face amounts of $1,000,000 of more.

6. Solutions for higher risk applicants. Association based plans are often not available to applicants who have health issues like diabetes. Individual policies are available on a modified basis to Doctors who have significant health issues but can still qualify for life insurance. The policy may be issued on a rated basis where an extra premium is charged in line with the increased risk.

For more details on which plan is best for you. Get a free online instant quote at our Term Life Instant Quote Page by clicking that link, or feel free to call us at 1-866-899-4849.

Call us: 1-866-899-4849

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One Comment

  1. LSM Insurance 05/12/2011 at 5:32 pm

    What are the rates for $500,000

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