An insurance policy is a legal document that explains the agreement between two parties. One of the parties is the insurer and is liable to pay compensation upon damage mentioned in the terms and conditions of the agreement. Whereas, the other party pays a monthly insurance fee in exchange for complete financial coverage in case of an unwanted event.
There are insurance policies for homes, lives, cars, and much more. However, this is another mode of insurance that is becoming increasingly powerful for people around the world. Nearly 60% of Canadians are investing money in buying visitor insurances. Buying health insurance for visitors to Canada helps minimize the chances of a financial crisis. You can find tons of companies that are willing to provide this kind of health insurance.
Investing money in an insurance plan may seem useless, but it is actually in great favor. Let us discuss some of the main reasons why you should buy an insurance plan for your visitors as soon as possible.
Varied Prices
The best thing about buying a visitor insurance plan is that they come in various packages. You can get coverage for your international relatives for a price between CAD 25,000 and CAD 1,00,000. Each of these plans will also have its unique coverage and liability terms. So, make sure that you go for the most expensive one so that you can handle even the worst expenses for your visitors without a sweat. Furthermore, buying a large insurance plan will increase their chances of extending their stay in Canada with you.
Emergency medical costs
The visitor insurance plan covers the medical expenses of the holders during their stay in Canada. It means that all their medical expenses will be borne by the insurance company. Having a good insurance plan will help you save a lot of money on emergency medical procedures so make sure you take one up.
Emergency Transportation
Many people think that healthcare in Canada is free for visitors and nationals alike. However, that is not the case. You may even have to pay for something as basic as transportation for medical purposes. Luckily, investing an amount in insurance allows you to be covered for transportation charges too. You can holler for an ambulance without worrying about it damaging your pocket.
Meals and Accommodation
If you are someone who has no one in the country then an insurance policy is crucial for you. The insurers will ensure that you have accommodation and quality meals for up to $1500 in your policy plans. Doing this will help you have the satisfaction of food on your table and a roof over your head under all circumstances.
Accidental Damage
Things can often get out of hand and it becomes difficult to manage things especially when you are in a foreign land. Therefore, having a solid insurance plan for your visitor can come to their rescue at the time of accidents or damages caused by them. We understand that the chances of this happening are very thin but you never know. So, we suggest taking some time out and investing money in a visitor insurance policy.
Having medical insurance for visitors to Canada will help you sit back, relax and enjoy your time with family without a problem. Make sure to take some time out and study more on these topics. You can also consult professionals from this field to help you understand the technicalities and read between the lines. Completing all these steps may seem tiring beforehand, but it will surely serve you and your visitor later during their trip.
With all that said, anyone up to the age of 84 can enjoy the perks of these insurance plans for visitors with their 24-hour assistance. Make sure to check it out and reach out to us if you have any more reservations.
