Critical Illness Insurance for Medical Students
What if you have a cancer, heart attack, or stroke?
Get tax-free cash to use the way you want when diagnosed with a covered condition.
As part of the Medical Student Offer, you can get $50,000 to $100,000 of critical illness insurance regardless of your health and finances. You first get disability insurance. Then, you can add critical illness insurance. If you'd prefer, you can wait until you exercise your Special FIO in your first year of practice to apply.
Your RBC Critical Illness Recovery Plan is guaranteed. As long as you pay your level premiums on time, RBC can't change the plan, increase your premiums or cancel your coverage. Coverage ends at age 75.
- Face Amount: you get a lump sum to use as you wish if:
- you are diagnosed with a covered condition, and
- you survive a specified period (usually 30 days, depending on the condition)
- 25 Covered Conditions: aortic surgery, aplastic anemia, bacterial meningitis, benign brain tumour, blindness, cancer (life threatening), coma, coronary artery bypass surgery, deafness, dementia (including Alzheimer's disease), heart attack, heart valve replacement or repair, kidney failure, loss of independent existence, loss of limbs, loss of speech, major organ failure on waiting list, major organ transplant, motor neuron disease, multiple sclerosis, occupational HIV infections, paralysis, Parkinson disease and specified atypical Parkinsonian disorders, severe burns, stroke
- 7 Early Assistance Conditions: if you are diagnosed with early stages of: prostate cancer, breast cancer, skin cancer, blood cancer, intestinal cancer, thyroid cancer or receive a coronary angioplasty, and survive at least 30 days (usually) you receive a lump sum 10% of the policy value up to $50,000.
- The standard benefit amount payable is not reduced by this benefit
- Long Term Care Conversion: subject to certain conditions — primarily that you are between ages 55 and 65, and have no critical illness claim pending — you can convert to long term care insurance without proof of good health.
- Under the long term care policy, if you are unable to perform two or more Activities of Daily Living (bathing, dressing, toileting, bladder and bowel continence, transferring positions and feeding) you receive a tax-free monthly benefit to help provide care for you.
- Premiums are based on your age at conversion.
- Converting is a good way to protect yourself in retirement, especially if you would otherwise be uninsurable in the future.
- Best Doctors®: you have unlimited access to assistance from Best Doctors, which can help you find and use treatments and medical experts you might not be able to otherwise. Your spouse and dependants can use Best Doctors every three years.
- Healing the Whole Person: if you are diagnosed with a covered condition, you receive membership in the Healing Journey Program which provides emotional support to help you cope with your illness. It includes access to a web site for communicating with other critical illness survivors and medical professionals, as well as audio and video recordings covering relaxation, mental imaging and other mental exercises.
- Daily Living Assistance: once your claim is approved, you get access to a Care Coach who :
- makes care suggestions
- finds and schedules appropriate treatments
- Your Care Coach also helps with:
- Locating child care or elder care
- Arranging transportation
- Setting up appointments (e.g., physicians, physical and occupational therapists, personal trainer, nutritionist or other professionals)
- Arranging purchases and services (e.g., grocery shopping, food preparation, lawn mowing, bill paying and other responsibilities)
- Identifying social and recreational opportunities (e.g., companionship programs, leisure or volunteer activities)
- Maintaining your independence (e.g., home or vehicle modifications)
- Accessing support organizations (e.g., local charities or other support groups)
- Tip sheets and other information (e.g., on a website created specifically for critical illness claimants)
What conditions lead to claims?
What if I want more coverage?
You can get another critical illness insurance policy, possibly with another insurer. Total coverage can reach $2 million dollars. Some plans offer
- coverage to age 100
- return of premium (e.g., after a number of years, at a specific age or at death)
Reminder: this content is simplified for clarity. Also, products change. Please refer to the policy contract for specifics.