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News | Residents and Health Care Professionals | Jean-Pierre Falet Team
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You are a medical student and, on top of that, you have a lot of debts ? You are eligible for
disability insurance even though you don't have an income right now. Why should you buy any other than because you can ?You are a medical resident and therefore limited to the salary that your professionnal
federation pays and its group insurance plan. You are eligible for disability insurance even though you don't have an income right now. 
Why should you increase you financial burden even more by taking out disability insurance ? You may have the impression that disability insurance is too expensive for the financial benefits it provides in the event of disability...but this isn't necessarly the case.
Benefits
The upside without the downside |
Benefit #1 |
You need to ensure you'll have nontaxable income through to age 65, income that, if worse comes to worse, will allow
you to pay off your debts and have a modicum of financial independence (for example, if you are disabled and consequently unable to finish your studies and obtain your degree). |
Benefit #2 |
The younger you are when you start, the lower your lifelong premiums will be! However, to take out this type of
insurance you must be healthy, and now is the time you are at your healthiest. |
Benefit #3 |
Having a Disability Insurance policy in force guarantees that you'll be able to increase your insurance coverage
with no medical proof. |
Benefit #4 |
For the resident, your Disability Insurance will provide additionnal, nontaxable income payable to age 65 in
addition to the benefits paid by your federation. The only taxable income your Group Insurance will pay out if you become disabled while a resident could be much lower than what you expected to earn during your medical
career. And remember, the younger you are when you take out insurance, the lower your premiums will be to age 65! |
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News | Residents and Health Care Professionals | Jean-Pierre Falet Team |
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Introduction | Critical Illness | Life Insurance | Disability Insurance | Seggregated Funds
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