xxxxxxx is a good company. They recently announce (June 4) that they have better discounts available for using a deductible with their Platinum policy. The only drawback with their platinum policy is that they will require proof of Visa rejection if cancelling the policy, otherwise they charge a stiff $250 admin fee for cancelling before arrival in Canada.

Here's a new article: on super visa insurance changes that might be useful :

Canada's Insurance Industry Responds to Demand for Super Visa Insurance

Super visa insurance prices have been getting lower
OK, let's be honest. When the Canadian government announced the new multi-entry super visa on November 4, 2011, Canada's insurance industry didn't know it was coming. On December 1, 2011, when the government revealed the requirements for applying for a super visa, including not only which insurance is required but that super visa applicants would need to purchase the insurance and submit proof of purchase with the application, all the Canadian travel insurance companies were caught off guard.

At the time, most of the companies that are now found on online quote engine didn't offer policies for longer than 365 days. Or, if they did, the coverage was limited to people 54 years of age and less. Hardly suitable for the 'parent and grandparent super visa'! One by one, Canada's travel insurance companies have been entering the super visa insurance market, or improving the terms that they are offering travel health insurance to visitor's to Canada. We know. Every month since last December, we've been making changes to our database each time a new change get's announced - we now offer more policy choices than any other online quote service in Canada!

Some insurance companies have entered the competition for new clients by simply allowing the policy they offered (that was restricted to 180 days or so) to be available for 365 days (December 19th and 26th). Others have increased the different deductible options available, helping to be more competitively priced (April 25th and June 4th). Some companies have completely revised the prices they make available to each customer age bracket, in order to grab a bigger share of the newly created market (December 11th and January 10th). One company recently changed its entire policy, and made it available to anyone no matter how old (May 4th). Another company is now planning on increasing the age until which it offers insurance, competing for the older super visa applicants (perhaps in the next few months). This increased competition has greatly helped lower the prices that are available.

Online super visa insurance brokers have increased
There's even a few new quote services available online, although industry regulation requires that all brokers providing such a service advertise the same prices that other brokers or even the insurance company websites themselves advertise. The regulators have purposely eliminated brokers competing against each other based on price - otherwise customers would all end up paying different prices and always feeling like the agent they dealt with didn't give them enough of a deal - lowering the public regard for the insurance industry.

So, since we are unable to rebate commissions, we rely on providing a better service - both online and offline - to earn customer's business. For us, part of that service is to provide better online comparisons than other similar services. And, a better comparison means giving our customers more policies to compare!

Forecasting future industry trends and reviewing purchase issues
By the end of this year, most of the market positioning by the Canadian insurance companies will be complete. We do expect that they'll be a few more changes that help increase the competition before next year. That will help keep the prices where they are now, or even lower perhaps for some age brackets. Usually, because of the claims that the insurance companies experience, and the increasing costs of medical services in Canada - the insurance companies will introduce new (usually higher) rates each year or every second year.

So once the initial market positioning has helped to lower insurance rates, we'll start to see rates increase somewhat overtime. At the same time though, in another couple years, we'll probably see the Canadian insurance companies start to create policies that are more in line with what super visa holders will need: policies designed for long term visitors that are staying with their family here is Canada. That means that refund, extension or financing (monthly premiums for annually renewable policies) options may change; coverage details will address annual check-ups and eye exams, etc.; medical questionnaires (or special diabetes, or arthritis riders) may become optional for those looking to have more extensive coverage. (Currently only two companies offer medical questionnaires for increased coverage of pre-existing emdcial conditions).

It's important for consumers to realize that the different insurance companies use different price bands for different age brackets, so the older you are the more you tend to pay - but just because the average age bracket is five years doesn't mean the best price you can find will only change every five years. Next year, a person on the edge of one age bracket (ie.70-74) might experience a much higher price the following year (75-79), so it can pay to keep an eye on birthdays!

It's also important to realize that from one year to the next, simply renewing or extending coverage with the same insurance company that you used last year might not be the best option. Why? Prices change. The company that was competitve last year may have changed it's rates, or might be using an age bracket that has suddenly made your 'renewed' policy a lot more expensive than what anoth insurance company is offering. Perhaps new options are available that were not available last year. Some people who jumped at the chance to sponsor their parents in December and January will certainly find that the available prices are lower in early 2013 than they paid the first time they had to look for and purchase their super visa insurance.

It always pays to look around, and compare your options.

Edit : Advertising links were edited from this post

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Diabetes and high blood pressure are covered. It does increase the cost of insurance.

Separate policies would be preferable if once parent has a condition and another doesn`t.


Advertising information edited

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Originally posted by rluthra111

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Reiki Grand Master

Hi Friends, I have recently brought my parents on super visa to Toronto, Canada for 10 years. If you need any information for paper work or best insurance coverage (Monthly vs. annual plan). Please feel free to message me. I am happy to help you for any inquiries. I live in Toronto.