Two disability insurance plans are available through Doctors of BC.
INCOMEprotect™ for Practicing Physicians
Benefits for Physicians
Doctors of BC INCOMEprotect™ is an enhanced disability plan designed exclusively for physicians’ unique needs. If you’re unable to work due to accident or illness, you may receive monthly tax-free income until age 65 or until you return to work. Whether you are totally unable to work, or can only work part-time, benefits can be claimed. During a claim, INCOMEprotect™ works seamlessly with the BC government-funded Physicians’ Disability Insurance. INCOMEprotect™ is portable and covers you throughout your medical career, wherever in the world it takes you.
Special Offer
Residency/Fellowship graduates
If you are enrolled in at least $2,000 of Doctors of BC INCOMEprotect™ for Residents, you have 90 days from completing residency or fellowship to switch to INCOMEprotect™ for Practicing Physicians and apply for the BC government-funded Physicians’ Disability without medical questions.
INCOMEprotect™ Advantage
Competitive Rates
Premiums are significantly discounted for physicians. INCOMEprotect™ 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 with level premiums that start at much higher rates.
Flexible Coverage
Monthly tax-free coverage amounts from $500 - $25,000.
Variety of optional features to customize your plan design.
Optional Features
Own Occupation Rider
- Helps protect your earning power when you are totally disabled.You are considered to be totally disabled from your regular occupation and entitled to full disability benefits – even if you choose to work and earn income in another job with different duties.
Guaranteed Insurability Rider
- Guarantees you can increase your coverage later, regardless of changes in your health.
- Can increase coverage by up to $2,500 during the annual option period (November 1-30), no medical questions asked (must be age 55 or under and have income to warrant the increase).
Cost of Living Adjustment Rider (COLA)
- Ensures your coverage keeps up with the rise in the cost of living, increasing your monthly benefit according to the National Consumer Price Index, up to the maximum you’ve selected, either 3% or 6%.
- COLA applies if you’ve been disabled for 12 consecutive months, and continues each year you remain disabled until you’re 65.
Retirement Protection Rider
- Helps keep your retirement plan on track by providing a monthly contribution to an investment account while you are disabled.
- If your annual earned income net of expenses is:
- Less than $100,000 your monthly benefit amount is $500; or
- Greater than $100,000 you may choose a monthly benefit of either $500, $1,000, or $1,500.
Find out More
INCOMEprotect™ for Practicing Physicians Plan Brochure
Rates
INCOMEprotect™ for Practicing Physicians Rates
You can also email to ask for a personalized quote.
How to Apply
Submit completed application form via email, fax or mail.
- Scan & Email
- Fax: 604 638 2909
- Mail: Doctors of BC, Insurance Department, 115 - 1665 W Broadway, Vancouver, BC V6J 5A4
Application Process
Proof of good health is required unless you meet the special offer criteria listed above. After submission of your application, we will contact you to make arrangements at no cost to you. Depending on your age, health and the amount of coverage being applied for, you may be required to provide one or more of the following:
- Telehealth interview
- Blood and urine sample
- Vitals
- Paramedical Exam
- ECG
How to Make a Disability Claim
Read the Claims Guide for instructions on how to submit a claim.
Complimentary Advice
Book an appointment with a licensed, non-commissioned Doctors of BC Insurance Advisor to confidentially discuss your situation and learn what coverage is right for you.
Email .
Physicians’ Disability Insurance – BC government funded
Benefits for Physicians
Physicians’ Disability Insurance (PDI) is a short and long term disability plan that is funded by the provincial government. The plan provides a non-taxable monthly benefit up to $6,100, based on your eligible income..
Eligibility
You are eligible to apply for coverage under this plan if you are:
- Under age 65
- Receive fee-for-service, sessional payments, or non-salaried service contract income from the Medical Services Commission of British Columbia.
Although the provincial government funds this benefit, coverage is not automatic and you must apply for coverage.
Special Offer
If you are enrolled in Doctors of BC INCOMEprotect™ for Residents, you have 90 days from graduation to apply for the BC government-funded Physicians’ Disability without medical questions.*
*must carry minimum $2000 INCOMEprotect™ for Residents for at least 12 months prior to starting practice
Coverage Amount
Your monthly PDI benefit is calculated each year and is based on your prior calendar year’s BC eligible earnings (fee-for-service billings, sessional payments, or non-salaried income under a service contract) and an overhead factors based on your practice type. The maximum monthly benefit is $6,100 (non-taxable). If you are in your first two years of practice , your benefit amount will be pro-rated based on actual earnings if a claim is made.
As high income earners, physicians are encouraged to have additional disability coverage to ensure adequate income loss protection. You may supplement PDI with the INCOMEprotectTM for Practicing Physicians plan.
PDI and other Disability Insurance
Your monthly PDI benefit will be reduced at the time of claim if your total disability benefits from all government and private sources exceed 60% of your net pre-disability earnings (after expenses but before income or corporation tax).
Your monthly PDI benefit will be reduced by 50% of any disability benefit you are entitled to receive under the Canada Pension Plan, but will not be affected by any dependent benefits or any subsequent cost-of-living adjustments.
PDI Premiums
You do not pay any premiums for PDI coverage. PDI premiums are paid by the provincial government. The PDI benefit you receive while disabled (either partially or fully) is non-taxable. Therefore, the Canada Revenue Agency considers the PDI premium paid on your behalf to be a personal taxable benefit, and a T4A will be issued to you annually.
Find Out More
Read the Physicians’ Disability Insurance brochure.
How to Apply
Submit completed application form via email, fax or mail.
- Scan and Email:
- Fax: 604 638 2909
- Mail: Doctors of BC, Insurance Department, 115 - 1665 W Broadway, Vancouver BC, V6J 5A4
Proof of Good Health
After submission of your application, if any proof of good health is required, we will contact you to make arrangements at no cost to you. Depending on your age, health and the amount of coverage being applied for, you may be required to provide one or more of the following:
- Telehealth interview
- Blood and urine sample
- Vitals Paramedical Exam
- ECG
As per insurance industry practice, the insurer may offer coverage with exclusions, modifications, or decline coverage based on your health or lifestyle
How to Make a Physicians’ Disability Insurance Claim
Read the Claims Guide for instructions on how to submit a claim.
Complimentary Advice
Book an appointment with a licensed, non-commissioned Doctors of BC Insurance Advisor to confidentially discuss your situation and learn what coverage is right for you.
Email .