A drill guide, comprising: a drill guide assembly, comprising a first drill guide body defining a receiving passage, wherein the first drill guide body includes a locking member and terminates in a first grasping projection adapted for flexing between an open position and a closed position; a shaft securable to the drill guide assembly; a first drill guide insert defining a bore and adapted for insertion into the receiving passage of the first drill guide body, the first drill guide insert including: a grasping projection displacement surface adapted to engage and move the first grasping projection from its closed position to its open position during initial insertion of the first drill guide insert into the receiving passage of the first drill guide body, a locking groove adapted to receive therein the first grasping projection of the first drill guide body, wherein, upon continued insertion of the first drill guide insert into the receiving passage of the first drill guide body, the grasping projection displacement surface disengages from the first grasping projection such that the first grasping projection moves from its open position to its closed position, further wherein the first grasping projection engages the locking groove thereby preventing the first drill guide insert from being pushed through or pulled out of the receiving passage of the first drill guide body, and a key member adapted to engage the locking member of the first drill guide body upon insertion of the first drill guide insert into the receiving passage of the first drill guide body, wherein the key member and the locking member engage to prevent rotation of the first drill guide insert within the receiving passage of the first drill guide body, characterized in that the first drill guide body includes a first slot and second slot with the first grasping projection therebetween, further wherein the first and second slots (226, 226) allow the first grasping projection to flex between the open position and the closed position. a drill guide assembly, comprising a first drill guide body defining a receiving passage, wherein the first drill guide body includes a locking member and terminates in a first grasping projection adapted for flexing between an open position and a closed position; a shaft securable to the drill guide assembly; a first drill guide insert defining a bore and adapted for insertion into the receiving passage of the first drill guide body, the first drill guide insert including: a grasping projection displacement surface adapted to engage and move the first grasping projection from its closed position to its open position during initial insertion of the first drill guide insert into the receiving passage of the first drill guide body, a locking groove adapted to receive therein the first grasping projection of the first drill guide body, wherein, upon continued insertion of the first drill guide insert into the receiving passage of the first drill guide body, the grasping projection displacement surface disengages from the first grasping projection such that the first grasping projection moves from its open position to its closed position, further wherein the first grasping projection engages the locking groove thereby preventing the first drill guide insert from being pushed through or pulled out of the receiving passage of the first drill guide body, and a key member adapted to engage the locking member of the first drill guide body upon insertion of the first drill guide insert into the receiving passage of the first drill guide body, wherein the key member and the locking member engage to prevent rotation of the first drill guide insert within the receiving passage of the first drill guide body, characterized in that the first drill guide body includes a first slot and second slot with the first grasping projection therebetween, further wherein the first and second slots (226, 226) allow the first grasping projection to flex between the open position and the closed position. a grasping projection displacement surface adapted to engage and move the first grasping projection from its closed position to its open position during initial insertion of the first drill guide insert into the receiving passage of the first drill guide body, a locking groove adapted to receive therein the first grasping projection of the first drill guide body, wherein, upon continued insertion of the first drill guide insert into the receiving passage of the first drill guide body, the grasping projection displacement surface disengages from the first grasping projection such that the first grasping projection moves from its open position to its closed position, further wherein the first grasping projection engages the locking groove thereby preventing the first drill guide insert from being pushed through or pulled out of the receiving passage of the first drill guide body, and a key member adapted to engage the locking member of the first drill guide body upon insertion of the first drill guide insert into the receiving passage of the first drill guide body, wherein the key member and the locking member engage to prevent rotation of the first drill guide insert within the receiving passage of the first drill guide body, characterized in that the first drill guide body includes a first slot and second slot with the first grasping projection therebetween, further wherein the first and second slots (226, 226) allow the first grasping projection to flex between the open position and the closed position.