All About OMA Disability Insurance 

The Ontario Medical Association (OMA) disability insurance is an insurance policy for Canadians who may experience a disability and are unable to continue working for a period of time. When this happens, these people will not have any income but the bills will continue to need to be paid. The insurance policies that people purchase before this unfortunate situation occurs make it possible for temporarily sick or injured people to continue providing for their families.

Canadians have two different types of OMA disability insurance: Disability Income Insurance and Disability Income Insurance – High Income.


Disability Income Insurance

This first plan is for physicians who may experience an illness or an injury and need to take time off of work to obtain treatment and recover. The insurance policy will provide them with:

• The ability to increase their amount of coverage without having to undergo a physical examination
• Retirement protection
• Coverage that will be in effect all over the world
• All eligible members are guaranteed admission into this program who are under the age of 35
• The ability to obtain coverage that gives them $15,000 every month during a disability


Disability Income Insurance – High Income

This plan is for those who currently have the disability insurance policy as well as a high income. When people add Disability Income Insurance - High Income to their policies, the amount they can receive each month increases from $15,000 to $20,000. The other benefits are:

• The insurance protects the extra income earned by the insured
• It prevents the insured’s income from being interrupted for a long period of time
• It acknowledges the true earning potential of the insured and the family’s lifestyle

In the event that the insured are able to return to work but cannot perform the duties they performed before the illness or the injury, they will still qualify for their benefits. In these cases, they can be considered totally disabled, and it doesn’t matter if their income does not decrease. Both the Disability Income Insurance and Disability Income Insurance – High Income plans have this rider in their plans, and it applies until the insured reach the age of 65. Both plans also contribute to a retirement plan during the time of disability.

When people become disabled and they need to take advantage of their coverage, they will receive the amount of money that they are due without having to pay taxes on the income. This allows them to concentrate on their rehabilitation without having to worry about their finances.

Also available: OAR, CBIA and CDSPI disability insurance