Basic Life Insurance
Help secure the future of your loved ones—and your practice.
You Are Eligible For
Lower rates for good health
Options to tailor your coverage
Coverage up to $4 million
Life Insurance Needs Analysis
This calculator can help determine what your life insurance needs are, and estimate your monthly premiums.
Why Invest in Basic Life Insurance?
Life insurance can help safeguard the things that are most important to you. Knowing that your loved ones and your practice are protected can reduce stress, and help you address future needs.
It Helps Your Loved Ones Pay:
-
- Bills
- Taxes
- Funeral costs
- Post-secondary education costs
- Mortgage and living expenses
It Helps Cover Your Practice For:
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- Partner buyout
- Offsetting financial losses
- Key person coverage
- Buy-sell agreement
CDSPI Basic Life Insurance Created Just for Dentists
CDSPI offers three exclusive advantages for the dental community:
1. APPLY WITHOUT A MEDICAL
If you're 50 or under, apply for up to $1 million in coverage without medical testing.¹
2. GET REWARDED FOR GOOD HEALTH
Dentists who are in good health and maintain a healthy lifestyle can apply for AdvantEdge preferred rates.
3. MORE COVERAGE MEANS MORE SAVINGS
Once you qualify for preferred rates, higher coverage limits mean greater rate reductions.
| COVERAGE AMOUNT | % REDUCTION | ||
|---|---|---|---|
| FROM | TO | AdvantEdge | HealthEdge or Basic |
| $300,000 | $499,999 | 15% | 0% |
| $500,000 | $999,999 | 20% | 5% |
| $1,000,000 | $1,499,999 | 25% | 10% |
| $1,500,000 | $4,000,000 | 27.5% | 15% |
¹ Manulife reserves the right to request medical testing if needed.
How can you be eligible for AdvantEdge rates?
Meet all these criteria:
- Be under the age of 70,
- Have no plan to and have not been advised to consult a physician or specialist or have a diagnostic test or surgery performed (excluding routine physicals),
- Have not used any form of tobacco or tobacco cessation products in the past 12 months,
- Have not been declined for life insurance or offered coverage on a modified basis in the past five years,
- Have not received treatment for cancer, coronary artery disease, stroke, diabetes, lung, liver or kidney disorder, HIV infection, AIDS or any other significant medical disorder in the past five years and,
- Have not used any form of illicit drug, or been treated for or advised to reduce alcohol or drug usage in the past five years.
Customize Your Coverage
Explore two optional enhancements with these additional benefits:
Pay no premium when you are totally disabled
With the Waiver of Premium option, if you become totally disabled for six months or longer, you no longer have to pay your life insurance premiums. In addition, you are reimbursed for all premiums paid during those six months. You must be under age 65 to apply for this option.
When am I deemed totally disabled? As a result of sickness or injury, you are unable to engage in any gainful occupation, are not gainfully employed in any occupation and are under the regular care of a doctor. The total disability must commence before the January 1st following your 65th birthday.
Increase your coverage regardless of health status
If you are under age 50, you can add the Future Insurance Guarantee (FIG) option, which allows you to increase your coverage by up to $50,000 at specified times in the future—without providing additional evidence of good health. You must be under age 50 to apply, and under age 51 to exercise this option.
When can I increase my coverage using the FIG Option?
Within 60 days of any of these events:
- When you marry, or when you have lived in a common-law relationship for at least two years
- Upon the birth or adoption of a child
- Your birthday at ages 25, 30, 35, 40, 45 and 50
You must be actively practising dentistry, under age 51, and not on a disability claim to exercise this option. If you are on maternity leave or parental leave, you may have an extended time period beyond 60 days.
| ANNUAL PREMIUM (FIG) | ||
|---|---|---|
| Non-Smoker* | Smoker | |
| Female | $11.45 | $14.31 |
| Male | $20.99 | $26.72 |
And, you can get your premiums guaranteed for life!
If you are 70 or under, you can convert your Basic Life coverage to Term 100 Life Insurance without providing evidence of good health. This provides seamless coverage at a guaranteed premium.
How does the Term 100 life insurance work?
You pay the same guaranteed premium until age 100, which makes it ideal for estate planning. You pay no premiums after age 100.
Eligibility
You are eligible to apply for Basic Life coverage if you are:
- Under the age of 70,
- A Canadian citizen or permanent resident of Canada, and
- A licensed dentist in Canada who is a member of the CDA or a participating provincial or territorial dental association (in Quebec, only CDA members are eligible) or,
- A full-time undergraduate or graduate student in a Canadian dental school or,
- A full-time employee of a participating dental association or organization.
Get a Quote
Provincial/territorial taxes are extra where applicable under provincial laws. Coverage is available in units of $25,000. Minimum: $50,000; except for AdvantEdge Special premium rates, which have a coverage minimum of $100,000. Maximum: $4,000,000 total coverage per life insured. Receive additional premium reductions on higher levels of coverage.
Additional Forms
Basic Life
In the event of your death, this plan provides your beneficiary with up to $4 million to assist in meeting financial obligations, such as their debts, expenses or taxes.
Life Insurance Needs Analysis & Quoter
These tools can help you ballpark what your basic life insurance needs are, and how much your monthly premiums will be. A proper consultation with an Insurance Advisor from CDSPI Advisory Services Inc, will provide you with expert insight and guidance as to your life insurance needs.
Future Insurance Guarantee (FIG)
If you're under age 50, you can increase your coverage regardless of health status, by up to $50,000, with the Future Insurance Guarantee option.
AdvantEdge Premium Rates
Dentists who are in good health and maintain a healthy lifestyle can apply for preferred rates with AdvantEdge. Find out if you qualify.
Non-Smoker Premium Rates
Dentists who have not used any form of tobacco or tobacco cessation products in the past 12 months.
Convert to Term 100
If you are 70 or under, you can convert your CDSPI Basic Life and/or CDSPI Family Life coverage to Term 100 Life Insurance without providing evidence of good health.
Life Insurance is provided by The Manufacturers Life Insurance Company (Manulife), PO Box 670, Stn Waterloo, Waterloo, ON N2J 4B8.
Manulife has the authority to grant or refuse insurance coverage based on health considerations. Precise details, terms, conditions and exclusions are set out in the insurance contracts for these plans.
Manulife, Manulife & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.
