With Canada paying constant emphasis on family reunification, every year, thousands of parents and grandparents visiting their Canadian sponsors, choose Super Visa. In fact, the Super Visa Program has a much higher rate of application as well as acceptance than any other visa program. The primary reason for this success is that the process for this temporary, multiple-entry visa is just a few weeks long. And a prerequisite for this is the Super Visa Insurance. While you will have many choices when it comes to buying a policy no matter what part of Canada you are in, you need to be prudent. We help you with 3 practical tips to save your money as you sift and test and pick among the best super visa insurance providers.
Before we move on to the tips, we just want to remind you of a few things that you must never forget while buying a Super Visa Insurance.
The minimum cover amount should be $100,000.
The policy period should be no less than a year.
This must be bought from one of the valid, licensed Super Visa Insurance providers in Canada.
The policy should have been issued by the provider before you can apply for Super Visa.
This policy document must be attached to the Super Visa application as a prerequisite.
Any discrepancy in any of the three above-mentioned can lead to rejection of the Super Visa application.
Take it as a given that a casual approach towards buying a Super Insurance Visa policy can not only lead to you purchasing an inadequate plan but also spending a fortune on it. But if you go about it meticulously, not only will you be able to choose the best policy, but also save your precious money and get the maximum value out of what you spend.
1. Ladies and Gents, Enter, the Deductible!
Deductible as many of you may know is that excess amount that you promise to pay on your own in a claim that you make against the policy. While there are always two factions in regard to the deductible, i.e., the super visa insurance providers who support a (high) deductible vs those who do not, it is nonetheless a way to save money on the premium. Since in case you agree to pay the deductible if you make a claim against your policy, the most seasoned agents suggest that you keep it under a $1000. Why? Because one can be prepared to pay the deductible in the case of planned hospitalization and treatment, but in case of emergency, you will risk paying the deductible there and then no matter even if is as high as $2000.
Life Care’s experience as perfect liaison between clients and Super Visa Insurance providers offers the best of advice regarding deductible for your policy.
2. Monthly is the New Order
A monthly plan is a great plan that lets the buyer pay in monthly installments. Buying insurances for more both parents or grandparents at one and the same time can be an expensive affair. Shelling a large premium amount in that case can be taxing on one’s pocket.
This is where a monthly plan lets you save. You just need to pay first two monthly installments plus administration charges (up to $50 only) for the issue of the policy. The rest of the premium amount can be paid in monthly installments. Not only will it let you save money initially and use it for other important things as you keep paying the rest monthly through steady income, but also in case the insured leaves Canada in less than a year, the remaining installments are easier to refund.
Right now, Life Care offers monthly plans from two Super Visa Insurance providers: 21st Century Insurance and Travel Shield. The flexibility of payment that the monthly plans offer is very helpful in making the policy less cumbersome all at once. Not only does life facilitate these plans from the providers, but provides you with seasoned licensed insurance agents that help you analyze, compare, and choose the best monthly plan according to you payments needs.
3. Saving in Case there Is No Pre-Existing Medical Condition
Super visa Insurance for pre-existing conditions are more expensive that the policies that do not include pre-existing medical conditions. So, you may buy the former only if the person to be insured suffers from such a condition. There a plans that include this sort of coverage by default as their standard feature. So, look out for it and buy a plan that doesn’t cover it(and thus, doesn’t charge for it).
Also, the clauses for pre-existing medical condition coverage may be very tricky. For example, there may be a 3 month look back period and you might want a cover commencing with the start of the policy. Also, definitions like a pre-medical condition being stable and controlled are very minutely defined by Super Visa Insurance providers. Unless you read the fine print, you could end up paying uselessly for a pre-existing medical condition (and still inadequate cover or no cover alt all) or end up in rejection of application.
The best way is to rope in an experienced insurance advisor who not only knows the ins and outs of the policies but also of the best and the worst Super Visa Insurance providers.
4. Read Up Well
Even if you are buying a plan from a provider that has been recommended by other or the advisor to you, ALWAYS read all the policy related documents. Not only do you want to buy the right policy, but also pay for what you get. Unless you read the documents, you will never be sure if what the policy offers is what you want. There might be something you are paying for but have absolutely no need for.
So, read up well, as questions, and be doubly sure about what policy you purchase. So, ready to save the day with these great tips for purchasing Super Insurance policy?