Medical Profession Coverage Limits

     As you pass through the various stages of your career, your insurance needs will change. While it is important for you to have adequate protection in place, the actual financial needs for a Medical Student, Medical Resident and Practicing Physician are different. Insurance companies have long been aware that while you are training your income is very low, but when you begin to practice it will increase significantly. Therefore, they have developed non-income insurance limits, in which they will allow coverage, even though the income is not there. Once you are working full-time, they will then require income justification.

We recommend that while you are training you keep these non-income insurance limits in mind, and bring your coverage up-to-date to keep in line with these limits, so that you will have the maximum amount of coverage in place at graduation time.



Graduation Year/First Year of Private Practice     $4,000
Year Three   $2,500

Medical Physicians

Specialty - Graduation Year/First Year of Private Practice Up To     $10,000
Non-Specialty - Graduation Year/First Year of Private Practice Up To     $6,500
Fellowship Training Up To     $8,000
Residency     $4,000
Final Year Medical School     $4,000
Year Three Medical School     $2,500**
Year One and Two Medical School     $1,5000


For Medical Physicians, coverage amounts are carrier dependent.
**Calgary and McMaster - due to 3 Year Program, able to apply for higher limits

Please contact our office to arrange a telephone appointment to review your coverage, to make sure you are at your correct coverage limit.

Copyright ©2017
Kirkham and Jack is working in partnership with Continuum Financial Centres , a subsidiary of Financial Horizons Group