Medical Student Initiative Program
As a medical student preparing to enter residency, you are under tremendous pressure to perform, and face many decisions that will affect your future financial stability and security. By the time the average medical student begins their residency they may have over $100,000.00 worth of debt. It is critical that you make the right decisions to protect your investment in time and money by planning now for your financial growth.

Your individual situation is unique, and as such requires products and solutions specific to your needs, level of debt and financial goals. Only by knowing all of your options through our comprehensive needs analysis can you feel confident that you have in place what is needed to accomplish both your near and long-term financial objectives.


We can help you answer the following questions:


Financial Strategy
  • As a new graduate/resident who has recently joined the workforce, I am still carrying student debt. What are some financial strategies I can consider?
  • Is it better to focus on paying off my debt or invest in RRSPs or a TFSA?
  • How can I make use of my RRSPs as a first-time home buyer?
  • How can I effectively make use of my unclaimed tuition credits?
Insurance
  • Why should I consider life / critical illness (C.I.) insurance now?
  • Why should I consider disability insurance now?
  • I have disability insurance coverage that was purchased through a private insurance carrier. Is the coverage portable?
  • Will the different disability insurances integrate with each other? (i.e. OMA, PAIRO, CFMS (RBC))
  • What if my residency is being done outside of Ontario and I already have OMA coverage, can I transfer the OMA coverage to the province I am moving to?
  • What are the advantages of getting coverage through CFMS (RBC)?
  • What is the deadline to apply for disability insurance through CFMS (RBC)?
  • Do the discounts offered by CFMS (RBC) , Canada Life, Great West Life or Manulife apply to my future purchase as well?

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