Professional Expense

Competitive member rates

Premiums are significantly discounted for members. Doctors of BC Insurance's premium structure follows the concept of present value - paying less today is better than paying less in the future when the value of money has decreased. Rates are designed to be lowest in earlier years so you can invest more in your business and your family. Premiums slowly increase in 5-year age bands as rising earnings and inflation continue to make premiums affordable. This premium structure differs from alternative individual plans which have level premiums that start at much higher rates.

Exclusive plan design

The plan is specifically tailored for physicians. You can choose from various optional features to customize the plan based on your needs and budget. Over time, Doctors of BC has added new features and increased maximums to ensure you’re well protected.

Portability

Professional Expense Insurance provides coverage while you reside in Canada and, under certain guidelines, worldwide as long as you are a member of Doctors of BC. A nominal membership fee is charged if you are out-of-province.

Association support

Doctors of BC is the province's leading insurance provider for doctors and are uniquely not-for-profit. Our commitment to members is reflected in many ways. An Insurance Committee, comprised of doctors like yourself, helps oversee the management of the plans to ensure they are protecting members well. A team of non-commissioned, licensed advisors are available to provide unbiased and expert advice. Additionally, if you are in the unfortunate circumstance of needing to make a claim, your association will be by your side to support you.

Coverage amount 

$500 - $30,000 of monthly reimbursements for incurred business or professional expenses, in $100 increments.

If you select a 14-day elimination period, the maximum is $11,000. You can purchase additional coverage with a different elimination period up to a combined maximum of $30,000.

Benefit period 

Benefits are payable for up to 15 months. If you remain disabled after this time and have not utilized all your benefits, coverage may be extended for up to a total benefit period of 36 months, upon approval by the insurer. If you are 70 years old or or older at time of claim, benefits are payable for a maximum of 12 months. 

Elimination period 

The elimination period is the number of days of disability within a specific period until you can begin receiving the monthly benefit. The longer the elimination period, the lower the premium. Choose from 14, 30, 60, or 90 days.

Covered expenses 

The plan reimburses fixed monthly expenses incurred in the operation of your practice of medicine, or in the case of a partnership or joint use, your portion of such expenses. They include, but are not limited to, expenses such as:

Professional expenses

• Interest charged on your student loans;
• Accounting and legal services;
• Depreciation on automobile;
• Professional association membership dues;
• Premiums for CMPA;
• Lease payments for business use of an automobile;
• Interest on loan that that relates to the business use of an automobile

Clinic or office expenses

• Rent of or mortgage interest on business premises;
• Property taxes on business premises and business taxes;
• Heat, water and electricity;
• Salaries of employees who are not members of your profession;
• Depreciation on office equipment;
• Premiums for business insurance
• Premiums for health and dental insurance coverage of your employees;

Included features

Total disability

You may receive full benefits if, as a result of sickness or injury, you are unable to perform the regular and important duties of your regular occupation, you are under the regular care of a physician, and you are not engaged in any other gainful occupation.

Partial disability benefit

You may receive partial benefits if, as a result of sickness or injury, you are under the regular care of an attending physician and have a loss of at least 20% of your average monthly earned income and are still able to perform some of your work or are working in another occupation.

Parental benefit 

You are eligible for 50% of your benefit amount, up to the current EI benefit maximum, for a maximum of 15 consecutive weeks, provided that your coverage has been in effect for at least 12 months.

Survivor benefit 

Your named beneficiary receives three times your monthly Professional Expense Insurance benefit if you die while on claim.

Optional features

Guaranteed insurability rider (GIB) 

• Guarantees you can increase your coverage later, regardless of changes in your health.
• Can increase coverage during the annual option period (November 1-30), no medical questions asked (must meet earnings requirements).
  • If you are age 40, you can purchase up to $2,000 each year
  • If you are between ages 41 and 60, you can purchase up to $1,000 each year

You are eligible to apply for this coverage if you are:

• A member of Doctors of BC or the Yukon Medical Association.
• Under age 65.

Evidence of insurability may be required.

Special offer 

If you have completed your residency or fellowship within the past 90 days, you are eligible to apply for Professional Expense Insurance without evidence of insurability. You can apply for up to $2,000 if you are 40 years old or younger, or up to $1,000 if you are between the ages of 41 and 60. This insurance has a 90-day elimination period.

Additionally, within two years of enrolling in this special offer, you can increase your coverage by an additional $2,000 if you are 40 or younger, or by $1,000 if you are between 41 and 60, based on your age at the time of your original enrollment.

Use the rate sheet to calculate your cost.

Application process

Complete the professional expense online form to apply.

Upon submitting your online application, our insurance team may email you if clarification is required. Once your application is in good order, you will be requested to provide your signature via DocuSign. Your application is then forwarded to the insurer for review.

Evidence of insurability - proof of good health and/or financial documentation - is required unless you are eligible for a special offer (see Eligibility). After submission of your application, you will be contacted by Manulife’s paramedical provider, Dynacare, to complete a telehealth interview. Depending on your age, health and the amount of coverage being applied for, you may be contacted to provide additional evidence such as a blood and urine sample, vitals, paramedical exam, or ECG. The insurer may request an attending physicians’ statement from your doctor. 

Depending on the complexity of your application and the time it takes to gather the medical requirements, it may take the insurer 1-3 months to provide a decision.

Book a free consultation

A licensed, non-commissioned Doctors of BC Insurance advisor can assess your situation and give you personalized recommendations and quotes. 

Contact an advisor.

Learn more

Read the Professional Expense insurance plan brochure.

See Make a Claim for step-by-step instructions.