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MEDICAL STUDENT – GENERAL
1. What are the advantages of dealing with Sogemec?
Sogemec Assurances is the only financial services firm recommended by the Fédération des Médecins Étudiants du Québec (FMEQ) that can offer you all the insurance products on the market and, in particular, the plan set up specifically for you.
Nowhere else will you find as much choice!
2. Is the group insurance cancellable?
Yes; however, the FMEQ policy includes a clause guaranteeing that you can transfer your coverage over to the FMSQ policy. You will thus not find yourself without insurance.
3. Are the premiums guaranteed?
No; they can go up or down.
4. Can I keep my policy if I am going to practice my profession outside Quebec?
Yes; as long as you are a member of an association of medical specialists or generalists and are going to practice elsewhere in Canada or in the United States.
In the case of a fellowship outside Quebec, eligibility is extended for a maximum of 2 years (4 years in the case of a graduating resident).
5. If I have to see a nurse, will a blood sample be taken?
A blood sample is not required in all cases. The insurer will decide if it is necessary, depending on the coverage requested, your age, and the medical questionnaire you completed.
6. Do you offer investment and financial planning services?
No; however, Professionals Financial, a subsidiary of the FMSQ, does offer this service.
MEDICAL STUDENT – LIFE INSURANCE
1. What are the advantages of a variable premium?
The variable premium is established according to the real risk of morbidity based on age. When we are young, the risk of dying in an accident is high and the risk of dying following an illness is low, so we can thus enjoy a low premium. When we are older, the risk of dying in an accident remains high and the risk of dying following an illness increases considerably, so the premium we have to assume is therefore higher.
Since the premium is lower when you are young, you can thus more easily afford insurance coverage that corresponds to your real needs and thus be adequately protected at the time when you need it most, that is, when your financial obligations are at their highest.
2. Can my spouse apply for this coverage?
Yes, your spouse is eligible for life insurance coverage.
MEDICAL STUDENT – DISABILITY INSURANCE
1. What is disability insurance?
Disability insurance will pay you a monthly benefit in the event that you are unable to carry out the principal tasks of your usual professional functions. As a student, you must be unable to continue pursuing your full-time medical studies in order to be eligible for benefits.
2. Is it important for a doctor to have disability insurance?
Disability insurance is essential for a doctor. A doctor is self-employed and so is not eligible for employment insurance. In the event of a disability, if you are not covered by disability insurance, you could find yourself having to draw social assistance in order to live. It would be a shame to have made so many sacrifices to end up there!
3. What are the advantages of a variable premium?
The variable premium is established according to the real risk of disability based on age. When we are young, the risk of disability following an accident is high and the risk of disability following an illness is low, so we can thus enjoy a low premium. When we are older, the risk of disability following an accident remains high and the risk of disability following an illness increases considerably, so the premium we have to assume is therefore higher.
Since the premium is lower when you are young, you may thus more easily afford insurance coverage that corresponds to your real needs and so be adequately protected at the time when you need it most, that is, when your financial obligations are at their highest. You may also consider options such as a shorter waiting period, a longer benefit period – and all at a more than affordable cost.
4. Can I apply for disability insurance without a health questionnaire?
A report of insurability, consisting of some fifteen questions, must be completed along with your initial application.
Thereafter, your protection will be increased according to a predetermined schedule without any additional medical questionnaire.
5. Can I be forced to do work other than my own profession when on disability?
No. A provision in your Federation’s policy is that you will be recognized as on total disability if you are unable to continue pursuing your full-time medical studies. Never will your insurer force you to do another job.
6. Can I be considered partially disabled as a student?
No, because you simply cannot be a part time student.
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