If you are planning to sponsor your family to visit Canada, you probably don’t want any disruption, especially involved medical condition. Super Visa insurance can cover medical emergency for your family members during the time visiting Canada, and you don’t have to pay out-of-pocket for hospital or medical expenses. You may find different policies for different insurance companies. Here are some certain factors involved when applying for super visa insurance.
Coverage amount: The lower coverage you choose the cheaper premium you will get. However, it depends on your situation, when it comes to health emergency, $25,000 may not be enough. Don’t always go for the cheapest one.
Deductible: deductible amount is the amount that you are willing to pay-out-of your pocket before making claims to insurance company. The amount can be range from $0 to $10,000. The bigger amount you choose, the cheaper your premium is. But, you want to buy insurance; it means you probably don’t want to pay $5,000 or $10,000 up front in emergency situation.
Refund: for partial refund, it may work different from company to company. But one thing for sure, you can get full refund, if your parents or grandparents visa is declined. Keep in mind that, if the case happens, you need to submit the refusal letter before the effective date in your application.
Pre-existing medical conditions: some companies will cover, some are not. But if applicable, the conditions should be stable from 120 days to 180 days. You may have to pay more if the insured person has pre-existing medical conditions.
Policy: Each company will have different policy. In the policy, it will indicate all the eligibility, benefits, refund, term and conditions. Before applying, you should carefully go through policy wording or have an advisor to explain it to you.
Talk to an advisor to find the best policy fit to your needs, you don’t have to waste time to search through companies.