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Disability Insurance
Plans for future doctors, do they exist?
Sure! Insurance programs specifically created for your needs and your budget exist, each with its advantages.
Let’s start with the most important: Your Fédération médicale étudiante du Québec and Sogemec Assurances have negotiated a disability insurance coverage that’s free for the duration of your studies. It’s a one-of-a-kind protection, created specifically for students. So why not take advantage?
OK, it’s free…but is it necessary?
The journey to becoming a doctor is long and arduous, you know that better than anyone. By setting up disability insurance coverage now, while you are in good health, you ensure that you have coverage that will meet your needs when you start your residency AND your practice.
So, how do I choose the right protection?
In addition to your Federation’s offer, we will look with you at the student offers from RBC and Canada Life, two insurers who have developed insurance programs for students, each with its own advantages.
Our advisors will recommend the best offer for you by providing their totally objective opinion, since they are the only ones able to offer you the exclusive FMEQ plan AS WELL AS the products of other insurers.
Why shop around for insurance when you have everything under one roof!
We are one click or phone call away to chat about it!
Sogemec Assurances’ advisors are specialized to deal with health professionals like you and will be able to help you make your choice. They have access to every option on the market, whether it’s your exclusive association group plan or various individual insurance products. Moreover, they are not connected to any financial institution. So they work for you, with objectivity and integrity.
Q&A: The exclusive FMEQ plan
How much disability coverage would I receive under the FMEQ plan?
The monthly indemnity depends on the number of years of study. The premium is free wherever you are in your studies.
| Year of study | Monthly indemnity | Monthly premium required |
|---|---|---|
| 1st year medicine | $1000 | 0 |
| 2nd year medicine | $1500 | 0 |
| External 1 | $2000 | 0 |
| External 2 | $2500 | 0 |
| Resident | $4500 | $35/month |
| Doctor in practice | $6500 to $20,000 | Premium according to amount, age and smoker/non-smoker status |
Am I required to undergo a medical exam?
Not always. Our team of advisors have access to all the insurers on the market, they can look with you at the coverages with or without a medical questionnaire and help you determine the best offer for you.
How do I identify the best option?
Disability insurance plans have options that are sometimes included and sometimes optional, but the main ones are:
Waiting period: This is the waiting period that you cover at your own expense, often 90 days, before the insurer begins to indemnify you.
Payment term: The period of payments covered by the insurer, which ends at the end of the disability.
Indexation: The rate of adjustment of all coverage according to the increase in the cost of living. This option is especially important for young professionals.
Own occupation: An option that requires the insurer to pay you the full amount if you cannot return to your main pre-disability duties, even if you’re able to practise another profession.
Annual increase options: An option of certain products that enables you to adjust your future coverage without having to undergo new medical tests. It is available during the same window each year.
Other options may also be added depending on the product and the insurer. Because all doctors have different personal and professional realities, choosing the right coverage with the right options is essential.
"Enjoying a strong partnership since 2004, the FMEQ is pleased to be associated with Sogemec Assurances. Sogemec Assurances is more than professionals who provide insurance products, it is a partner in financial education allowing you to establish solid foundations for your future practice. While we learn to take care of others, they are there to take care of us."
