Comparison: OMA vs RBC Insurance

We compared the policy provisions and cost differences after OMA annual premium refund.

In order to be eligible for OMA insurance, OMA members must be in good standing, which means they must be up to date on their membership fees. With the OSA, there is no reference to being in good standing or membership fees in order to qualify or maintain your insurance. 
Neither the OSA insurance companies nor the Association (the OSA) can cancel or change your insurance.

POLICY PROVISION COMPARISON
Life insurance
Disability insurance
Critical illness insurance
Office overhead insurance

COST COMPARISON AFTER  OMA ANNUAL PREMIUM REFUND
Below are case examples of a physician and his/her non-physician spouse who is the same age after OMA annual premium refund which is not guaranteed. We assume the physician has $1,000,000 of OMA Group term to 75 life insurance, $10,000/month of OMA disability insurance and $100,000 of OMA Sun Life critical illness insurance. The spouse/partner has $1,000,000 of OMA Group term to 75 life insurance and $100,000 of OMA Sun Life critical illness insurance. These examples are for illustration purposes only.

Male physician age 30 and spouse/partner > SAVINGS $70,920
Male physician age 40 and spouse/partner > SAVINGS $76,565
Male physician age 45 and spouse/partner > SAVINGS $91,898  
Male physician age 50 and spouse/partner > SAVINGS $29,746
Male physician age 55 and spouse/partner > SAVINGS $33,604   
Male physician age 60 and spouse/partner > SAVINGS $26,828
Female physician age 30 and spouse/partner > SAVINGS $65,934
Female physician age 40 and spouse/partner > SAVINGS $58,400
Female physician age 45 and spouse/partner > SAVINGS $79,385 
Female physician age 50 and spouse/partner > SAVINGS $25,766
Female physician age 55 and spouse/partner > SAVINGS $33,896 
Female physician age 60 and spouse/partner > SAVINGS $26,746

WHAT IS YOUR INDIVIDUAL COST TO REPLACE YOUR OMA INSURANCE?

Attached is the cost summary that illustrates the monthly cost by gender, age and insurance by product (life, disability, critical illness and office overhead insurance).


OMA Insurance Replacement Program

P: 416-222-1311 I 1-877-314-1311  I E: INFO@OSAINSURANCE.COM