Member Life Insurance and Spouse’s Insurance (Plan B)
The cost of the member’s Term Life Insurance and Spouse’s Insurance (Plan B) depends on your age and smoking status, or your spouse’s age and smoking status. For cost information, please contact:
- Mark Venton, Doctors Manitoba, at (204) 985-5846, or
- Gord Brennan, Doctors Manitoba’s Authorized Representative, at (204) 985-1140.
These premiums are age banded rather than level premiums. This means you pay in today’s dollars for today’s risk. With level premiums, the cost at older ages is transferred to the younger ages, typically when you can least afford the cost. Rather than having you overpay at the younger ages, the Doctors Manitoba program uses the more cost effective five-year age banding method, where you pay the premium for the risk at your actual age.
Retail sales taxes are calculated based on the premiums applicable to those members of Doctors Manitoba who reside and/or report for work in Ontario and Quebec.