Life and Disability Insurance

PARA Group Disability and Life Insurance

PARA Group Life Insurance and Long-term Disability Plans (January 2011)

The Alberta Medical Association, through its wholly-owned subsidiary, ADIUM Insurance Services Inc. (ADIUM), administers the PARA Group Disability and Life Insurance plans for PARA members. Enrollment forms are included in the orientation package distributed to residents when they start their residency program. Residents need to complete the enrollment form in order to designate their life insurance beneficiary and provide program information and completion dates to ADIUM and the insurance company. If you have an address change or need to make a beneficiary change, a new form may be obtained from the AMA website (www.albertadoctors.org/AdiumInsurance/PARA) or contact ADIUM.

Phone: (780) 482-0692
Toll-free: 1 (800) 272-9680 ext. 692
Email: adium@albertadoctors.org

Eligibility
All PARA members who pay dues and are Ministry funded automatically receive long-term diability coverage while they are a resident physician with their premiums paid by Alberta Health Services. All PARA members who pay dues receive life insurance coverage with premiums paid by PARA. These benefits will end with the termination of your membership with PARA.

Features of these Plans
- No evidence of insurability is required.
- Coverage commences the first day of the month after you begin your duties.
- Coverage is in force 24 hours per day.

Life Insurance ($150,000 automatic)
- Flat payout of $150,000 in the event of death as of January 1, 2011
- Benefit is payable to your designated beneficiary
- Premiums are paid by PARA.
- Benefits payable are non-taxable.
- Coverage may be converted to the AMA Term Life Insurance Plan at the completion of residency, and is portable throughout the world.

Accidental Death and Dismemberment Coverage (as of January 1, 2011)

Accidental Death and Dismemberment Coverage provides for a lump-sum tax-free benefit if accidental injury results in a permanent loss of limb, hearing, sight, or speech, or movement in limb. The schedule of losses can be found in the PARA Group Disability and Life Insurance Plans Booklet.

Disability Insurance

Benefit is 75% of your gross monthly resident salary (taxable)
Benefits start after 90 days of disability
Benefit period is to age 65, or until no longer disabled
Premiums are paid by the employer as established in PARA's Collective Agreement
Coverage is convertible to the AMA Disability Insurance plan completion of residency.
Please contact ADIUM Insurance Services Inc. as soon as possible after the onset of your leave to report your possible long-term disability claim. This action will ensure a timely transition from Sick/Special leave to the commencement of benefits under the PARA Disability Insurance Plan.

Additional Life and Disability Insurance Coverage

The AMA offers members up to $3,000,000 of life insurance coverage, with medical evidence of insurability. Premiums start from as little as $10 per year per $50,000 of coverage. Coverage is portable throughout the world.

For further information contact ADIUM Insurance Services Inc. (AMA) at adium@albertadoctors.org or by calling 780.482.0692 or 1.800.272.9680 ext. 692.