Thousands of Canadian nationals and permanent residents have benefited from the Super Visa policy since its introduction in 2013, as it allows them to bring their parents and grandparents to join them in Canada!
Although buying insurance can tend to be an expensive investment, there are a few ways to save money on super visa travel insurance in Canada:
Apply in advance
It's no surprise that different firms use different approaches to measure their prices. Although some Super Visa insurance companies measure rates depending on the applicant's age at the point of registration or purchase, others do so at the time of the effective date, which is when people arrive in Canada or leave their home country.
While it is not mandatory for everyone to be insured, it is normal for individuals in the final year of their current age group to benefit from qualifying for insurance before their next birthday. In reality, the most frequent age-band shifts take place every five years, resulting in a rise in insurance rates. So, to stop paying higher insurance rates, it would be a smart idea to apply ahead of time!
Several insurance companies, like Manulife, GMS, etc, give you a chance to save a lot of money if you book the super visa insurance policy in advance. Though, not all insurance agencies offer the option to book the policy in advance.
Handle your deductible sensibly
One of the most misunderstood terms, the deductible, is a perfect way to easily control the expense and keep more funds in your wallet. By selecting a deductible, you choose to contribute a percentage of the cost to the costs of immediate emergency services paid by the insurer – up to the deductible limit – in return for a reduced insurance rate.
Even then, it's not a smart idea to go overboard to take the highest deductible accessible. It is especially relevant for sums greater than $1,000 because, in most situations, the deductible is charged for any claim a person may have within the coverage period. Most specifically, keeping the deductible down will save you money and you never know when you'll try to use an insurance program to cover medical expenditures.
Although Super Visa insurance is provided for a duration of one year, most people do not remain in Canada for that long, and therefore, do not need coverage for the whole term. The good news is that all Super Visa health insurance plans qualify for an early departure payout if covered persons travel to their home country without any claims being lodged or recorded on their file.
So, if you have paid your insurance premium in full and there are no claims on your file, you might be entitled to a refund on the number of days you did not use from the time you left before the insurance policy expired.
As a result, it's a smart idea to pay for minor costs out of pocket rather than claiming them so you can get a refund when your parents or grandparents leave Canada. If you're uncertain, call the insurance company, and then they will happily do the calculation for you.
If you choose to get the super visa insurance package from us, Insurance4u, we assure you that we will not bombard you with any extra charges and we will make sure that our insurance agents help you in understanding thoroughly the ins and outs of this policy. Regardless of this, we have a team of experienced individuals that are ready to entertain your queries whenever you want.
