Super Visa Insurance Options

Super Visa Insurance Options

• What super visa medical insurance is for
• How to find the best one for you
• Approximate costs and other tips

What is super visa medical insurance?

Before submitting an application for a super visa for your parent or grandparent, the applicant will need to show that they have medical insurance. These are the listed requirements from canada.ca for medical insurance from a Canadian* insurance company:

• valid for at least 1 year from the date of entry
• at least $100,000 coverage
• have proof that the medical insurance has been paid (quotes aren’t accepted)

*Beginning on July 4th, 2022, designated non-Canadian insurers have been allowed to provide medical insurances for super visas, according to a statement on June 7th, 2022 by Canada’s immigration minister. There are currently no designated non-Canadian insurers, but any new insurers will be updated on IRCC’s website according to the statement. Please also follow DFI on Facebook, Instagram, and Twitter for updates

How Much Does Super Visa Medical Insurance Cost?

The best way to proceed is to use a quote comparison website. These are websites where you can put in the information specific to your situation and it will give you a range of quotes from different insurance providers. Some popular examples are listed below:

Rates.ca

Insurancehotline.com

Healthquotes.ca

To give you an approximate range of costs, I’ll get quotes from 2 different hypothetical applicants on rates.ca.

Example #1: 65 year old man with no pre-existing medical condition

On the most affordable end, we have AwayCare TrueNorth for $1,243.95 for standard coverage with a $1000USD deductible.

On the other end, we have Allianz Global Assistance providing an AD&D (Accidental Death and Dismemberment) policy for $3230.25 with a $0 deductible.

Example #2: 60 year old woman with pre-existing medical condition

It is very important to note that rates.ca states that the quotes for those with stable pre-existing medical conditions might not be accurate until after speaking with a representative

The most affordable rates are very similar to the previous applicant’s, with AwayCare TrueNorth providing coverage at a $1228.44.

As far as the best coverage, this applicant can get a much better deal for the same plan provided by Allianz Global Assistance than the previous applicant, with a premium at $2606.10.

While the prices can change drastically depending on your particular situation, here are some common ranges:

• Single mid-40s, no pre-existing medical conditions: about $800 to $1,800
• Couple mid-40s, no pre-existing medical conditions: about $1,600 to $3,600
• Single early 70s, no pre-existing medical conditions: about $1,700 to $4,600
• Single 70s, stable pre-existing medical condition: starts around $2,200

While there’s not much in your control as to what type of quotes you get, it is encouraged in general to apply as a couple if possible instead of submitting 2 different applications, as it reduces costs usually.

What if my super visa is refused?

If the super visa application is denied, the money is may not be lost. The insurance company may provide a full or partial refund based on the particulars of the policy.

Additionally, if you don’t stay in Canada for the full year that the policy covers and haven’t made a claim, you may also be provided with a prorated refund for the unused coverage.

What is a super visa?

Many parents want to see and spend time with their children and grandchildren who now live away from them in Canada, and vice versa. To serve this purpose without having to permanently relocate to Canada, you can get a super visa.

According to canada.ca, “a super visa lets you visit your children or grandchildren for up to 2 years at a time. It’s a multi-entry visa valid for a period up to 10 years.”

So, if you have or are a child or grandchild that is a Canadian citizen or permanent resident, this could be a great option for reuniting your family for extended periods of time in a simple manner.

If you need any help with applying for a super visa, or want to see what’s the best option for you, please book a consultation with us and we’d be happy to assist!