Products & Services
NLMA Physician Care Network
The NLMA Physician Care Network (PCN) is committed to providing physicians with health programs that offer health promotion, prevention and crisis intervention services related to the physical and mental health of physicians.
Parental Leave Allowance
The NLMA Parental Leave Allowance provides partial income replacement for physician parents regardless of their payment modality, who take temporary leave following the birth or adoption of their child. Eligible fee-for-service (FFS) and alternative payment plan (APP) physician parents can apply to receive $1,500 per week for a total of 17 consecutive weeks. FFS and APP physicians may also bill/earn up to $1,900 per week while receiving the parental leave allowance in recognition that overhead costs for a private office may continue throughout the period of parental leave. For salaried physician parents, the allowance provides a “top up” to Employment Insurance parental leave benefits to a combined maximum of $1,500 per week for a total of 17 consecutive weeks.
Investment & Financial Services
The NLMA Group Registered Retirement Savings Plan (RRSP), administered by MD Financial Management, provides salaried members who are employees of the Government of Newfoundland and Labrador with a group RRSP. Contributions are based on bi-weekly contributions of five per cent by the employer and five per cent by the employee, deducted automatically from salary (subject to the yearly maximum contribution level). These contributions are forwarded directly to the NLMA Group RRSP and invested by MD Financial Management according to the physician’s instructions. Please contact MD Financial Management at (709) 726-2136 or (800) 229-1798, or visit www.md.ca.
The Medicus Pension Plan™ is now available in Newfoundland and Labrador. Established by MD Financial Management Inc. (MD) and Scotiabank, Medicus is a multi-employer pension plan designed specifically for incorporated physicians in Canada that provides predictable lifetime retirement income. That’s peace of mind for you, and your family. Start the journey to a future well-planned. Visit medicuspensionplan.com to sign up or learn more.
Personal Insurance Programs
OMA Insurance Important update
OMA Insurance recently transitioned the program to Manulife. To ensure policyholders were informed about the transition, OMA Insurance hosted a member forum, where the OMA Insurance leadership team and their partner, Manulife, provided answers to the most pressing questions from policyholders. To receive a copy of this video, please contact [email protected].
If you need assistance creating your Manulife ID and/or accessing the details of your insurance coverage, you can view the Transition page to get answers to common questions and to learn how you can be supported with the change to Manulife. If you have specific policy questions or have not received a welcome package, please contact OMA Insurance’s dedicated contact center at 1-888-596-8881, or email [email protected].
OMA Life and Disability Insurance
OMA Insurance provides insurance advice, service, and solutions to meet the unique needs of physicians and their families. Non-commissioned team members provide intelligent, relevant, and helpful solutions and recommendations for physicians at every stage of their career.
Coverage for Practising Physicians
OMA Group Insurance
Group Critical illness insurance: Receive a tax-free lump sum benefit of up to $250,000 for member and spouse, when you survive a diagnosis of one of 25 illnesses, including heart attack, stroke, and cancer. You may use these funds as you see fit, helping you and your family with the additional expenses that accompany a critical illness.
Group Disability insurance: Disability insurance is a simple and cost-effective way of providing a steady flow of tax-free income during a period of disability. Your OMA disability insurance plan is designed to keep pace with your needs throughout your career with physician-specific coverages to protect you from the financial impact of sickness or injury with up to $25,000 per month of coverage.
Group Life insurance: OMA Insurance has life insurance solutions to suit every stage of your life and career, with coverage available for member and spouse from $100,000 to $3,000,000.
- Flex Term 10 & Flex Term 20
- Term Life Plus 75
NEW Permanent Life and Individual insurance products
Understanding that OMA members’ needs evolve over time, we have further enhanced our OMA Insurance platform to include individual insurance products. We offer Permanent Life insurance products. Our knowledgeable OMA insurance advisors can provide you with unbiased advice and assist based on your unique life insurance needs.
Additional Individual insurance products can be purchased to complement our group products or bought on their own. An individual insurance product provides members with the ability to own their policy contract directly with the insurer.
Our platform of individual insurance offerings includes life insurance, disability, long-term care and critical illness products from reputable insurers. Through a robust due diligence process, we select the best-in-class insurance partners to bring our member options when reviewing their insurance needs. Below you will find a list of our preferred partners and links to more information on their life insurance and living benefit products.
Our individual (third party) insurance partners:
Canada Life: Products include life, critical illness and disability.
Canada Protection Plan: Offerings include simplified life and simplified critical illness insurance.
Hunter McCorquodale: Coverage includes Special Risk Life, Disability and Personal Accident insurance.
Industrial Alliance: Products include life and disability insurance.
Manulife: Coverage includes life insurance, critical illness, disability insurance and Manulife Synergy.
MyDignity: Home care/long term care insurance.
RBC Insurance: Offerings include life, critical illness, and disability insurance.
Sun Life: Products include life and critical illness insurance.
Coverage for Students and Residents
Essentials for Students/Residents: Medical school is expensive. This unique offer features discounted disability rates, plus complimentary life insurance while in medical school. Your disability benefits will automatically increase as you progress through medical school, from $2,000 during your first year up to $4,500 in your fourth year and will continue throughout residency.
- $200,000 of complimentary life insurance while in medical school.
- 75% discount on disability insurance premiums until the end of medical school.
- No medical questions or exams if you apply as a first-year medical student. Simplified underwriting will be required in subsequent years.
- Portable worldwide and automatically transitions with you into residency and practice.
Coverage for Physicians Transitioning to Practice
Essentials for Physicians: Given the demands that the post-residency period brings, the “Essentials for Physicians” offer gives residents the ease and flexibility to choose all or a combination of life, disability, and professional overhead expense insurance.
- Up to $5000/month of professional overhead expense insurance with a 50% discount on premiums for your first two years of practice
- Up to $11,000 monthly disability insurance benefit
- $200,000 of Group Term life insurance
- Worldwide portability
- A simple application process if you enroll within 120 days of successfully completing residency.
Contact your local advisor:
Kelly Budden, CFP, CHS
Regional Insurance Advisor
TF: 1-800-268-7215 ext 3221
[email protected]
A benefits program for eligible physician members of NLMA, MSPEI and NBMS. This bundled plan consists of $50,000 Group Critical Illness (CII) and Health or Health Plus (coverage for prescription medications, massage, chiropractor, vision care etc). No medical evidence is required for NEW physician members who enroll within ninety days of receiving their personalized offer. Members may also apply for optional coverage such as Dental, Dental Plus and additional Group CI for yourself and your spouse.
Visit OMAinsurance.com for further details.
Contact your local advisor:
Kelly Budden, CFP, CHS
Regional Insurance Advisor
TF: 1-800-268-7215 ext 3221
[email protected]
Take full advantage of your NLMA membership with privileged access to the TD Insurance program, which provides savings through lower preferred insurance rates. You’ll also enjoy the outstanding customer service you deserve, with knowledgeable representatives who are always ready to help. Did you know that a recent study conducted by TD Insurance showed that, on average, professionals who have home and auto insurance with them save $400? They have been serving professionals like you for 65 years. Please contact TD Insurance at (866) 745-2045, or visit www.tdinsurance.com/nlma.
Physician Leadership Bursary Program
Through the generous support of the Canadian Medical Association, the NLMA is offering a Physician Leadership Bursary to members. The bursary provides funding for the purpose of enrollment in multiple physician leadership and professional development opportunities that are aligned with the NLMA’s mission and values. Successful bursary applicants will receive up to 90 per cent of the direct tuition/registration costs for the programs they enroll in. The goal of the program is to provide NLMA members with the tools and techniques to be more impactful leaders in their community, their organizations, their province, their association and the profession.
C.A.R.P.
Membership
NLMA members regardless of age or practice status are entitled to a free one-year membership in the Canadian Association of Retired Persons (C.A.R.P.). C.A.R.P. has assembled a unique portfolio of “members-only” discounts and added value offers from leading brands – close to 100 separate savings which can easily add up to hundreds, even thousands, of dollars a year.
Scholarships & Bursaries
The Physicians’ Legacy Foundation of Newfoundland and Labrador is a registered charity administered by the NLMA and overseen by physicians. Each year, the generosity of donors provides scholarships and financial assistance to medical students and residents attending Memorial University. Donors help ensure that medical education is accessible to deserving students regardless of their financial means.
Keeping Members Informed
The NLMA provides a range of electronic services with the goal of delivering membership services in a more effective, immediate and efficient manner. The President’s Letter is published on a regular basis to keep members informed and up-to-date about emerging issues. Other bulletins and notices on upcoming events or information alerts on issues of interest to physicians are published on an as-needed basis. Members are notified of new and important items on the NLMA website and through the NLMA Update, delivered regularly to their email.
Discount Program with GoodLife Fitness
NLMA members can avail of a 15% discount with GoodLife Fitness, which applies to new gym memberships as well as existing ones transferred to the Association’s discount program. To take advantage, members will need to access the Goodlife Corporate Membership Portal using their NLMA number (omitting leading zeros, if necessary).
This benefit is offered at no cost to the Association, with eligibility lists updated to GoodLife at the end of each month. Please refer to the flyer and FAQs below for more information and visit the GoodLife Portal when you are ready to proceed.