Looking for Health Insurance for supervisa |
adnancanada
Desi
Member since: Jan 09
Posts: 86
Location:
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Looking for Health Insurance for supervisa
Hi guys,
I am planning to visit my parents in summer time. As per new law you must have health insurance.
Anybody knows insurance for two person. Any reasonable insurance company.
Any Idea how much would be for 2 person for one year. My father is 71 years old and mother is 63.
Thanks.
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Last edited by: adnancanada on 28-11-11 17:18:09 |
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28-11-11 17:16:47 |
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sanhuj
Junior Desi
Member since: Dec 04
Posts: 1
Location: Canada
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Father Age 71 50K COVERAGE $7.77 PER Day
MOTHER AGE 63 50k COVERAGE $4.26 PER DAY.
CALL ME 416-660-1010 FOR FURTER DETAILS.
SANDEEP AHUJA
PUNJAB INSURANCE INC.
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Last edited by: sanhuj on 29-11-11 02:58:16 |
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29-11-11 02:57:19 |
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JP_Edmonton
Junior Desi
Member since: Jun 11
Posts: 20
Location:
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I am searching the same information. Few things, I would like to highlight for you is that as per CIC website ...
1) Medical insurance must be valid for a minimum of one year and from a Canadian insurance company.
2) It should provide a minimum coverage of $100,000
3) This will be verified at the port of entry
I am yet to find a suitable Canadian Insurance Company for this purpose.
I have one additional question - my wife isn't working and we want her mom to visit us. The CIC website states that child or grandchild who is inviting the parent must meet Minimum Income/ Low Income Cut-Off. Can someone please help me understand, what may happen if we still apply for her Mom's Supervisa with my invitation letter and financial backing.
Many Thanks,
JP
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01-12-11 12:29:45 |
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ashedfc
Senior Desi
Member since: Jun 10
Posts: 2156
Location: GTA
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Quote:
Originally posted by adnancanada
Hi guys,
I am planning to visit my parents in summer time. As per new law you must have health insurance.
Anybody knows insurance for two person. Any reasonable insurance company.
Any Idea how much would be for 2 person for one year. My father is 71 years old and mother is 63.
Thanks.
Yes, its possible.... insurance can be done for any amount from $10000 to $300000 for upto 365 days; & later it can be extended if the stay gets prolonged.
For rates...
71 yrs... 50k is $6.57 per day
100k is $7.88 per day
300k is $9.72 per day
63 yrs... 50k is $4.26 per day
100k is $5.16 per day
300k is $6.34 per day
If you decide to proceed than PM me "the policy can be set-up directly over the phone"..
ASH
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01-12-11 13:03:34 |
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san-hugo
Senior Desi
Member since: Aug 10
Posts: 894
Location:
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Super visa is coming out to be a big sucker - ~5000 (insurance) + ~2000 (Air travel) + 150 (visa fee) + ~200 (medicals).
@ashedfc
A question for you,
CIC demands the medical insurance should be valid for one year , that means a policy for a year is required to be bought. With the given rates the medical insurance for parents will easily reach up to $ 5500 for one year, I have heard that this amount is to be paid at outset (lumsum in the beginning) . It can be refunded in case your parents decides to move back within 2 months time for remaining months. (the clause has big rider that no claim should have been made in those 2 months , huh ). I hope my info is wrong !
Do we have an option where we pay monthly amount only to take the policy and then pay in advance every month ?
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01-12-11 16:38:32 |
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ashedfc
Senior Desi
Member since: Jun 10
Posts: 2156
Location: GTA
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Yes the company I am referring to refunds the balance amount, with a $25 admin fee deduction.
Let say the premium for the 365 days is 3650, & the parents decide to go back after 60days, than $3650 (less $600 coverage used for 60 days) less $25 admin fee will be refunded back.
No, You don't have monthly option.
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01-12-11 17:02:18 |
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foresters
Junior Desi
Member since: Jun 11
Posts: 41
Location: Vancouver
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Super Visa Health Insurance
There are a few issues to discuss regarding the super visa application requirements and visitors to Canada insurance.
First of all, please don't think that 'one size fits all' and that if you find a cheap insurance rate (at punjab insurance for example) that everyone should buy the same policy. Depending on your age, your health, and your plans on when to return home, one company will never fit every person's situation everytime.
It is best to look closely at the policy details, so you can see what you are paying for. Getting policy details 'paraphrased' to you can hide the truth, and at claim time, or refund time those details will make all the difference. That's why using a comparable quote service that allows direct comparisons of policy wording is a good idea: LINK
So for example, the policy that Ahuja is speaking of is Travel Underwriters Platinum policy. This is a special discount policy available to only some brokers, which is good. The prices are very competitive. On December 19, all Travel Underwritiers prices 'across the board' are going up by 5%, which means the Platinum policy will only be competitve about 30% of the time. Instead, manulife and TIC will be more competitive for most age groups.
And very soon, within the next few months, I expect that other insurance companies which currently restrict coverage to only 180-183 days (GMS, Travel Guard, ETFS) will issue new rates that include coverage for 365 days. Some of those rates will be even more competitive than Manulife or TIC. So it will always be best to use a comparable website to look for current prices.
I'll post, and then continue....
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01-12-11 23:31:41 |
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JP_Edmonton
Junior Desi
Member since: Jun 11
Posts: 20
Location:
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Yes, its possible.... insurance can be done for any amount from $10000 to $300000 for upto 365 days; & later it can be extended if the stay gets prolonged.
For rates...
71 yrs... 50k is $6.57 per day
100k is $7.88 per day
300k is $9.72 per day
63 yrs... 50k is $4.26 per day
100k is $5.16 per day
300k is $6.34 per day
If you decide to proceed than PM me "the policy can be set-up directly over the phone"..
ASH
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I don't get it Ash, when CIC says $100K minimum why are you saying 50K or less will do?
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01-12-11 23:44:18 |
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foresters
Junior Desi
Member since: Jun 11
Posts: 41
Location: Vancouver
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Super Visa Health Insurance continued
So why is it important to look at all the details? Take this example:
For visa application requirements, applicants are expected to buy the 365 day insurance policy (minimum $100,000 coverage), even though they may plan to stay for only a few months the first time they use the visa to visit. So the refund policy is quite important considering the premium a 71 year old is expect ed to pay ($2875 at posted rate). The other issue that is important to think about properly is the use of a deductible to lower the out-of-pocket costs.
TU's Platinum policy is 100% refundable prior to departure. If you don't depart, it is still 100% refundable if you cancel the policy withing 30 days of it's start date. It is only partially refundable as long as there are AT LEAST 45 days left on the policy, and no claims have been made (or will be made) under the policy. Neither TIC or Manulife have such a 45 day restriction.
While LINK doesn't list TU's Platinum policy, they do include TU's other Freedom policy. That only comes with a $0 or a $150 deductible. Having bigger deductibles will be important to some people, especially if they plan to return home after only a few months on their first visit.
Why? A policy with a deductible of $150 means that the insured would need to pay $150 in the event of a claim. The higher the deductible, the lower the cost of the policy. The difference between using a $0 deductible and a $500 deductible might be $20%. So two parents using a $0 deductible policy for $5000 could have the same policy cost only $4000 if they use a deductible of $500 (Manulife).
If they use a $500 deductible and need to consult a clinic about having the flu, or something minor, the bill may only be $150. But even if the bill was $400 and they had a $zero deductible, they might want to pay the bill themselves and not file a claim, because if they file a claim, they can't get a refund. If they were leaving after 6 months, the refund will be close to $2500. So, using a $500 deductible and lowering the bill by $1000 right off the bat would be wise if the parent(s) are planning to return earlier than a year and they are expecting a big refund, that way if they have a small claim they can pay it (they did save $1000 by using the deductible to offset these small expenses), but if a major claim has to be filed, they pay the $500 deductible and thank their children for buying the insurance!
Hopefully, a policy can be found that will cover any pre-existing medical conditions. TU's Platinum policy will - but only if optional add-on coverage is purchased at the same time - at a much higher cost. TU's regular Freedom policy won't cover pre-existing medical conditions, whereas Manulife's Plan B will (Plan A won't), and so will TIC (as long as the condition has been stable for 180 days prior to departure).
Some policies start as soon as you leave your home country, others don't start until you arrive in Canada.
There are more differences between the policies than there are similarities, and the most important differences are not always this policy costs $2000 and this other one costs $1800.
The best purchase will depend on the person's travel situation - and using the advice of a broker that uses as many policies as possible to find one that is a good fit, both on price and that matches the situation is a good step towards making that best choice. Don't use a broker that talks about price only, sells a policy, and then shows you the policy after the fact. You'll get what you (didn't) pay for.
Get a quote from a comparable quote website that can help you compare policy details up front, or ask them for a professional opinion on what might work best for your parents LINK .
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02-12-11 01:23:49 |
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chekram_04
Senior Desi
Member since: Nov 06
Posts: 423
Location: Mississauga
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Quote:
Originally posted by ashedfc
Yes the company I am referring to refunds the balance amount, with a $25 admin fee deduction.
Let say the premium for the 365 days is 3650, & the parents decide to go back after 60days, than $3650 (less $600 coverage used for 60 days) less $25 admin fee will be refunded back.
No, You don't have monthly option.
What about preexisting conditions like diabetes, High BP etc. Are they covered? What are the rates for them? The same or more.
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02-12-11 02:50:33 |
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Contributors:
Aashu(1) adnancanada(1) AJBharj(1) ashedfc(4) ash_canada(1) chekram_04(2) foresters(8)
Gary Insurance Broker(1) JP_Edmonton(3) san-hugo(1) sanhuj(1) smiley1(1) uquab(1) |
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