Disability Isurance/Earnings

[Guest M0rningstarr]

I'm about to begin my R1 year in a few months. Our graduating class has been offered a very competitive individual disability insurance plan by a nation bank via a broker. The plan has three, non-interchangeable branches with different future maximum coverage amounts. As the maximum allowable coverage increases, so does the monthly fee, so we were advised to pick our plan based on estimated future earnings and the effects of inflation, etc.

 

Can anyone offer some advice as to what amount I should be looking at? The plans are offered at CAD$210000, CAD$280000 and CAD$360000 per year. My residency is in Internal Medicine, with a possible fellowship in Cardiology or Nephro, though I haven't ruled out general Internal. I plan to practice where I'm now, in Eastern Canada (not Maritimes), but will not rule out BC as an eventual possibility, and I've heard that there is quite an earnings discrepancy between different provinces.

 

Thanks/merci!