Parents and grandparents of Canadian citizens or permanent residents who have been found admissible to Canada and meet some other conditions are eligible for the Super Visa as stated by Canadian Government. Visa officers consider several factors before deciding if the person is admissible. This means they are a genuine visitor to Canada who will leave by choice at the end of their visit. Among the things that could be considered are:
- the individuals strong bonds to his/her home country
- the purpose of their visit,
- the individuals family and financial state of affairs,
- invitations from Canadian hosts.
The applicant can get detailed information by visiting cic.gc.ca site or consult an immigration consultant. Some mandatory documents are
- a written commitment of financial support from their child or grandchild in Canada who meets a minimum income threshold,
- prove that they have purchased Canadian medical insurance for at least one year to cover the period of time that they will be in Canada, and
- complete an Immigration Medical Examination (IME).
According to the above quote from the government’s website, proof of Canadian medical insurance is required. While this may change in the future to a list of approved international carriers, the guidance so far is for visitors to purchase visitors insurance from a Canadian company
The Canadian insurance companies are governed by the regulations in Canada, and the government perhaps feels safer that any claims will be paid for by a company they can regulate. The government doesn’t want to be the one to have to pay any claims, or sue a company that doesn’t pay out a claim.
The expenses for hospitalization for visitors to Canada can amount to over $3,000 per day, and air ambulance charges to return you home could very easily be in the tens of thousands of dollars. We recommend $100,000 of medical insurance coverage. This will ease your financial burden due to unforeseen charges and give you a peace of mind which everyone is looking for.
Yes. Any person can purchase a visitors insurance policy on behalf of someone coming to Canada
You can apply for a quote online by visiting our website or call our toll free number. After going through your requisites we will be able to give you a competitive rate.
It all depends on the pre-existing condition, and the terms and conditions of the policy. Some insurance companies offer plans that cover pre-existing conditions as long as they have been stable for a certain period of time (3 to 6 months) before departure from your home country. Sometimes, pre-existing conditions will not be covered. It is important to read your entire policy to make sure you are aware of the definitions affecting coverage, as well as the possible exclusions that may apply.
Only some of the available plans will cover pre-existing medical conditions such as diabetes, high blood pressure, heart conditions, etc. Other policies, while they do cover stable pre-existing medical conditions, use strict eligibility questions to screen out applicants (for example, no coverage available if you use an ICD (pacemaker), oral steroids for lung conditions, diagnosis of stroke, blood clots, congestive heart failure or heart murmur in past 12 months, etc.).
No. There is no medical exam required prior to purchase. You will have to fill the form which comprises of a few medical questions. You must answer all questions honestly, as not doing so may void (cancel) your coverage. If you have to submit a claim, the insurance company will investigate to determine if your condition was a pre-existing one, and/or whether you were honest on your application.
Canadian medical providers (hospital, dentists, medical clinics, etc.) prefer to work with Canadian insurance companies. There is direct billing between hospitals and the Canadian insurance companies. In the event that you have to pay for expenses and then file a claim, Canadian insurance companies will have a faster claim procedure as they can verify Canadian medical expenses faster than providers in overseas countries (so you get reimbursed faster).Also, Canadian insurance companies are regulated by Canadian regulators, at some of the very highest standards around the world. In fact, they are also re-insured by Assures – a Canadian government agency that will cover up to $60,000 of medical expenses in case a Canadian insurance company becomes insolvent. Not that that is likely, but it’s nicer to know that you are insured no matter what happens. Also, for
proof of insurance at immigration/entry time, paperwork is best shown in English or French.
Parents and grandparents of Canadian citizens or permanent residents who have been found admissible to Canada and meet some other conditions are eligible for the Super Visa as stated by Canadian Government. Visa officers consider several factors before deciding if the person is admissible. This means they are a genuine visitor to Canada who will leave by choice at the end of their
visit. Among the things that could be considered are:
- the individuals strong bonds to his/her home country
- the purpose of their visit,
- the individuals family and financial state of affairs,
- invitations from Canadian hosts.
The applicant can get detailed information by visiting cic.gc.ca site or consult an immigration consultant. Some mandatory documents are
- a written commitment of financial support from their child or grandchild in Canada who meets a minimum income threshold,
- prove that they have purchased Canadian medical insurance for at least one year to cover the period of time that they will be in Canada, and
- complete an Immigration Medical Examination (IME).
According to the above quote from the government’s website, proof of Canadian medical insurance is required. While this may change in the future to a list of approved international carriers, the guidance so far is for visitors to purchase visitors insurance from a Canadian company
The Canadian insurance companies are governed by the regulations in Canada, and the government perhaps feels safer that any claims will be paid for by a company they can regulate. The government doesn’t want to be the one to have to pay any claims, or sue a company that doesn’t pay out a claim.
The expenses for hospitalization for visitors to Canada can amount to over $3,000 per day, and air ambulance charges to return you home could very easily be in the tens of thousands of dollars. We recommend $100,000 of medical insurance coverage. This will ease your financial burden due to unforeseen charges and give you a peace of mind which everyone is looking for
Yes. Any person can purchase a visitors insurance policy on behalf of someone coming to Canada.
You can apply for a quote online by visiting our website or call our toll free number. After going through your requisites we will be able to give you a competitive rate.
It all depends on the pre-existing condition, and the terms and conditions of the policy. Some insurance companies offer plans that cover pre-existing conditions as long as they have been stable for a certain period of time (3 to 6 months) before departure from your home country. Sometimes, pre-existing conditions will not be covered. It is important to read your entire policy to make sure you are aware of the definitions affecting coverage, as well as the possible exclusions that may apply.
Only some of the available plans will cover pre-existing medical conditions such as diabetes, high blood pressure, heart conditions, etc. Other policies, while they do cover stable pre-existing medical conditions, use strict eligibility questions to screen out applicants (for example, no coverage available if you use an ICD (pacemaker), oral steroids for lung conditions, diagnosis of stroke, blood clots, congestive heart failure or heart murmur in past 12 months, etc.).
No. There is no medical exam required prior to purchase. You will have to fill the form which comprises of a few medical questions. You must answer all questions honestly, as not doing so may void (cancel) your coverage. If you have to submit a claim, the insurance company will investigate to determine if your condition was a pre-existing one, and/or whether you were honest on your application.
RESP insurance, or RESP coverage, is a type of insurance policy designed to protect the investment in a Registered Education Savings Plan. It ensures that even in the event of unforeseen circumstances, such as the death or disability of the plan holder, the intended beneficiary can still receive the education funds.
RESP insurance typically works by providing a lump sum payment to the RESP in the event of the plan holder’s death or disability. This payment is intended to cover any remaining contributions, government grants, and investment income that would have accrued in the plan until the beneficiary reaches the age of maturity.
Anyone who has opened an RESP for a child or loved one can benefit from RESP insurance. It provides peace of mind knowing that the investment in education is protected, even if the unexpected occurs.
RESP insurance covers the contributions made to the RESP, any government grants received (such as the Canada Education Savings
Grant), and the investment income generated within the plan. In the event of the plan holder’s death or disability, these funds are paid out to ensure the beneficiary’s education needs are met.
RESP insurance is not mandatory, but it can be a valuable addition to an RESP plan, especially for those who want to safeguard their investment against unforeseen circumstances.
The cost of RESP insurance can vary depending on factors such as the age and health of the plan holder, the amount of coverage desired, and the insurance provider. It’s essential to discuss options with an insurance agent to determine the most suitable coverage for your needs.
In many cases, RESP insurance can be added to an existing plan. However, this may depend on the terms and conditions of the insurance policy and the RESP provider. It’s advisable to consult with both your RESP provider and an insurance agent to explore your options.
If the beneficiary decides not to pursue post-secondary education, the RESP insurance coverage remains intact. The funds can typically be transferred to another eligible beneficiary or withdrawn according to the terms of the RESP and insurance policy.
To purchase RESP insurance, you can contact an insurance provider or agent who offers this type of coverage. They will guide you through the process of selecting the appropriate coverage amount and completing the necessary paperwork.
The taxation of RESP insurance proceeds depends on various factors, including the specific terms of the insurance policy and relevant tax regulations. Generally, the proceeds paid out to the RESP beneficiary are not taxable, but it’s recommended to consult with a tax advisor for personalized guidance.
Life insurance is a contract between an individual and an insurance company, where the insurer promises to pay out a sum of money upon the insured person’s death to their designated beneficiaries. This payment is typically referred to as a death benefit.
Life insurance provides financial protection for your loved ones in the event of your death. It can help replace lost income, cover outstanding debts, such as mortgages or loans, fund future expenses like college tuition or retirement for your family, and provide peace of mind knowing your loved ones will be financially secure.
There are several types of life insurance, including term life insurance, whole life insurance, universal life insurance, and variable life insurance. Term life insurance provides coverage for a specific period, while whole life, universal life, and variable life insurance policies offer coverage for the insured’s entire life, along with an investment component.
The amount of life insurance you need depends on various factors, including your income, outstanding debts, future financial obligations, and your family’s needs. A general rule of thumb is to have enough coverage to replace your income for a certain number of years and to cover any outstanding debts and future expenses.
Choosing the right life insurance policy involves assessing your financial situation, understanding your insurance needs, and comparing different policies from reputable insurance companies. It’s essential to consider factors such as the coverage amount, premium costs, policy features, and the financial stability of the insurer.
Life insurance premiums are typically determined based on factors such as your age, health, lifestyle, occupation, coverage amount, and the type of policy you choose. Generally, younger and healthier individuals with lower-risk lifestyles pay lower premiums.
Depending on the type of life insurance policy you have, you may have options to change or modify your coverage, such as increasing or decreasing the coverage amount, changing the beneficiaries, or converting a term policy to a permanent policy. It’s essential to review your policy regularly and consult with your insurance agent or company for assistance.
In most cases, life insurance death benefits are not taxable for the beneficiaries. However, there may be exceptions, such as if the policy has an investment component that generates taxable income. It’s advisable to consult with a tax advisor for personalized guidance on the tax implications of your life insurance policy.
to file a life insurance claim, you typically need to contact the insurance company or agent and provide them with the necessary documents, such as the policyholder’s death certificate and any other required forms. The insurance company will then review the claim and process the payment to the designated beneficiaries.
Yes, you can have multiple life insurance policies from different insurers or even multiple policies from the same insurer. Having multiple policies can provide additional coverage and flexibility to meet your insurance needs. However, it’s essential to ensure that the total coverage amount is appropriate for your financial situation and that you can afford the premiums for all policies.
Eligibility for group insurance typically depends on membership in the group offering the plan, such as being an employee of a company or a member of a specific organization. Employers or group administrators set the eligibility criteria, which may include factors like employment status, hours worked, and length of service.
Group insurance differs from individual insurance in several ways, including cost, underwriting requirements, coverage options, and enrollment processes. Group insurance plans often have lower premiums and may not require medical underwriting for individual members, whereas individual insurance policies are tailored to each person’s specific needs and health status.
In many cases, group insurance premiums paid by employers are tax-deductible as a business expense. Additionally, employees’ contributions to group insurance plans, such as health insurance premiums paid through payroll deductions, are often made on a pre-tax basis, reducing their taxable income.
Depending on the terms of the group insurance plan and applicable laws, you may have the option to continue your group coverage after leaving the group, typically through a process called COBRA (Consolidated Omnibus Budget Reconciliation Act) continuation coverage. However, you may be required to pay the full premium cost