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As a new doctor, your ability to earn an income is your most important asset. To protect it, you need insurance.
Insurance helps protect your future, your family, and your property from the financial consequences of unexpected events. With adequate coverage, you can safeguard the financial benefits that a medical career can provide, even in the face of worst-case scenarios.
| Insurance Product |
How it works |
Benefits to you |
| Disability income protection insurance |
Pays a monthly benefit if you’re unable to work because of illness or injury |
Payments allow you to maintain your standard of living even if you are disabled and unable to work |
| Critical illness insurance |
Pays a lump-sum benefit on the first diagnosis and survival of a serious medical condition (e.g. cancer, heart attack) covered by your policy |
Gives you financial flexibility to cover additional costs associated with an illness, or to pursue lifestyle goals during or after recovery |
| Life insurance |
Pays a tax-free, lump-sum amount to your beneficiaries upon your death |
Assists your beneficiaries in paying off your debt if they choose to do so and maintaining their standard of living in the event of your death |
In the Canadian Medical Residency Guide, you’ll find vital information about each of these types of insurance, along with automobile insurance, home insurance, and out-of-province medical insurance. To calculate how much life insurance you need, try the RBC Insurance easy-to-use calculator.
Insurance information is just a phone call away. If you have any questions about disability, critical illness, or life insurance, just call RBC Insurance at 1-866-235-4332. Ask us about our exclusive plan for members of the Canadian Federation of Medical Students.
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