Super Visa Insurance Monthly Payment Options

Canada’s universal healthcare system is considered one of the best in the world. However, universal health care doesn’t extend to visitors. If your parents or grandparents plan to visit Canada, you (or they) must buy a travel medical insurance plan.

For those traveling on Super Visa, the related insurance is mandatory, and being a Canadian citizen is part of the eligibility criteria for this insurance. Various insurance ciompanies offer different options for Super Visa insurance, including monthly payment plan.

We’ve put together this guide to answer all the questions you may have about Super Visa insurance, including what it is, what it covers, and whether it can be paid for monthly.

What is Super Visa insurance? 

A Super Visa is a multiple-entry visa available to parents and grandparents of Canadians citizens and permanent residents. The visa is valid for 10 years and allows visa holders to enter Canada multiple times. The maximum period for which a visitor can stay in Canada at one stretch is five years.

To be eligible for a Super Visa, a person must meet several requirements. One of those requirements is having an adequate super visa insurance policy. This policy ensures that applicants have the necessary medical coverage during their stay in Canada, with a required coverage amount of at least $100,000.

The super visa insurance policy can be paid for either by the applicant or by their family members in Canada, and it offers the option for monthly payments. Various insurance companies offer different Super Visa insurance policies, some of which include monthly payment options.

Super Visa insurance is a travel medical insurance policy designed specifically for parents and grandparents of Canadian citizens and grandparents. Super Visa insurance pays for a range of expenses, including, but not limited to, the following:

• Medical emergencies (emergency hospital bills, emergency dental, emergency diagnostic tests)
• Out-of-pocket expenses (e.g., accommodations, child-care costs, meals, taxi fares, etc.)
• Routine doctor’s fees
• Prescription drugs
• Repatriation
• Other services (e.g., chiropractor, physiotherapy, acupuncture, and podiatrist services)

The mandatory medical insurance coverage for Super Visa holders is $100,000, though in most cases having extra protection doesn’t hurt. Typically, one can purchase up to $1 million in Super Visa insurance coverage. You, your parents, or grandparents can pay the premiums.

Can you pay for Super Visa insurance monthly? 

Yes, you can. Some providers allow Super Visa insurance policyholders to pay the insurance premium on a month-to-month basis.

It’s quite possible that paying Super Visa insurance premiums annually may save money. But sometimes, making a lump-sum premium payment can be difficult. If you are on a budget, opting for a Super Visa insurance monthly payment plan in place of annual payments may make sense. Some insurance companies offer monthly payment plans for the insurance, providing flexibility for policyholders.

The Canadian government accepts Super Visa applications with both monthly payment plans and yearly payment plans as proof of insurance. That said, keep in mind that not all insurance carriers offer the “pay monthly” option. You may have to shop around a little if the monthly premium option is a deal breaker for you.

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What are Super Visa medical insurance requirements?

You can buy Super Visa medical coverage from any Canadian insurance provider of your choice. However, the plan must meet the following requirements:

• Provides at least $1,000,000 in emergency medical coverage
• Pays for emergency medical, hospitalization, and repatriation
• Must be valid for at least one year from the date you arrive in Canada
• Can be paid either in full or monthly installments

These requirements can be met through various life insurance companies, each offering different plans and payment options.

Things to look for in Super Visa medical insurance

In addition to the requirements mentioned above, visitors to Canada should also consider other factors when selecting Super Visa medical insurance. Although the expense of medical insurance may be a priority for you (and we will address that shortly), it shouldn’t be your sole focus.

Different insurance companies offer various plans with different features, including monthly payment options. As far as policy details go, different insurance carriers offer different plans. When shopping for Super Visa medical insurance, key factors to consider besides the premium include:

• Emergency medical benefits
• Deductible options
• Policy exclusions (i.e., medical services that aren’t covered by your plan, including pre-existing conditions)
• Coverage for pre-existing health conditions

A pre-existing medical condition is a health condition that an applicant had before enrolling in a health insurance policy. If the insured has a pre-existing health condition, some additional things to look at while shopping include:

• Is the pre-existing illness covered? Super Visa health insurance plans may not cover all pre-existing illnesses, and policy exclusions may vary from one plan to another. Read the policy document carefully before signing so that you clearly understand what is covered and what is not.
• Will you have to pay higher premiums? If so, how much? Not all pre-existing illnesses lead to higher-than-average premiums. If the illness is minor or well-controlled, you may well receive the Standard rate. In the event of a serious medical condition, the premium rate will go up. But you can still get a good deal if you are prepared to shop around because premiums vary by insurer.
• Has recently there been any significant change in the applicant’s health? Insurance carriers may be reluctant to cover unstable pre-existing illnesses. If your parent’s or grandparent’s health is unstable, insurers may suggest waiting until their condition stabilizes. Alternatively, they may write a policy with exclusions.

Regardless of your parent’s health history, it’s important to answer all questions on the application form truthfully. Lying on the health insurance application is a kind of insurance fraud and can have serious consequences. The insurer can cancel the policy after it has become active, increase the premium rate, or even deny a claim.

How much does Super Visa insurance cost?

The average cost of Super Visa insurance is between $100 and $200 per month. But exactly how much premium you’ll pay depends on factors such as:

• Age: Younger applicants pay less for coverage than older applicants.
• Health history: If the insured has a serious illness or several minor conditions, expect to pay a higher premium than someone in good shape.
• Deductible amount: A deductible is the amount of money you pay for covered healthcare expenses before your plan kicks in. The higher the deductible amount, the lower your monthly Super Visa insurance monthly payment plan will be.
• Coverage amount: Policies with higher benefit amounts cost more.
• Insurance provider: While insurance companies consider the same factors when writing a travel medical insurance policy, they assess risk differently. The cost of the insurance can vary between different insurance companies, and some may offer monthly payment plans.
• Financial support: Demonstrating adequate financial support can also impact the cost, as it is essential to meet specific income requirements for hosts.

Can there be a gap in Super Visa medical insurance coverage? 

No, there should not be any gap in Super Visa medical insurance coverage. The plan should remain active throughout your parent’s or grandparent’s stay in Canada. If the corresponding insurance is about to expire, contact the insurance provider without delay and have it renewed. Insurance companies can help ensure continuous coverage by offering flexible payment options, including monthly plans.

Three key characteristics of Super Visa insurance are:

• Continuous coverage: The policy should be valid for at least one year from the date of your parent’s visit and should remain active through their entire stay without any gaps.
• Canadian insurance provider: You must purchase Super Visa insurance from a Canadian insurance company.
• Minimum coverage amount: You must have emergency medical coverage of at least $100,000.

What are the benefits of Super Visa insurance?

Some of the main benefits of Super Visa insurance are:

• A pre-requisite for Super Visa: To be approved for the Super Visa, an individual must have Super Visa insurance. Without it, they can’t get it.
• Covers emergency medical expenses: This coverage pays for emergency medical expenses, which includes surgeries, hospitalizations, and more. Having such insurance allows you to access quality health care without looking over shoulder for funds.
• Peace of mind: Super Visa insurance, like any other insurance product, is ultimately about peace of mind. It reassures that you (or your visitor) won’t have to pay thousands of dollars out of pocket in the event of a medical emergency.
• Coverage for repatriation: In the unfortunate event of a visitor passing in Canada, Super Visa Insurance can assist by covering the expense of repatriation and bringing the deceased back to their home country.
• Flexible coverage options: There are a variety of coverage options available, including different levels of medical coverage, optional add-ons, deductibles, etc. You can choose coverage levels and features that best meet your financial needs, ensuring you have the right plan for your specific circumstances. Insurance companies offer various plans with different benefits, including the option for monthly payments.

Is Super Visa medical insurance refundable?

Yes, premiums paid for its medical insurance are refundable in specific circumstances. Refund policies can vary between different insurance companies, so it's important to read the policy details carefully.

• Visa application denied

If your parent’s or grandparent’s visa application to Canada is refused by the Canadian High Commission, you are eligible for a 100% premium refund.

• Early return

If your parent or grandparent returns home early, you may receive a partial reimbursement of the unused premiums, provided no claim was filed. However, the conditions for a partial refund in the event of early return vary by policy, and some plans may not provide a refund at all. Read the policy document carefully to understand its terms and conditions, or speak with your insurance broker.

• Policy cancellation during the free look-in period

Most insurance carriers (if not all) offer policyholders a free look-in period, which could be anywhere between 10 and 30 days. If you cancel your Super Visa medical policy during this period, you’ll get a full refund.

• Deciding not to travel

If a visa is issued to your parent or grandparent, but they decide not to travel, you may be eligible for a refund. Some providers may offer a 100% refund, whereas others may charge a cancellation fee if you cancel coverage after getting a Super Visa. The cancellation charges vary by insurance carrier, but usually, it’s in the range of $100 to $250.

Conclusion

Super Visa insurance is a special type of travel medical insurance intended for Super Visa holders. Those traveling to Canada on a Super Visa must have this coverage before they board the plane. It covers health care, hospitalization, and repatriation. Because Super Visa Insurance policies can vary significantly in terms of coverage, cost, and terms, it’s essential to compare plans.

Various insurance companies offer different Super Visa insurance plans, including options for monthly payments. Dundas Life, one of Canada’s top-rated insurance brokers, provides you with free, no-obligation quotes from multiple providers and can help you find the best deal. Book your free consult call today.

FAQs

Is Super Visa insurance mandatory?

In Canada, Super Visa insurance is mandatory for all its applicants. 

How much does Super Visa insurance cost?

There’s no one-size-fits-all answer to this question. How much you’ll pay for Super Visa medical insurance depends on personal details (such as age, health, etc.) and policy details (such as coverage amount, deductible, etc.) Having said that, if you are in reasonably good health, its medical insurance is likely to cost you somewhere between $100 and $200 a month. The cost of the insurance can vary between different insurance companies, and some may offer monthly payment plans.

Can I pay for Super Visa insurance monthly? 

Yes, you can pay for the insurance monthly, but not all Canadian insurers offer this option. If you prefer making the monthly payment plan to paying the full premium for a year at one go, pick a provider that offers the monthly payment option.

Some insurance providers offer monthly payment plans for the insurance, providing flexibility for policyholders.

Can you switch your existing Super Visa insurance plan to monthly payments?

You can switch from a “pay once a year” payment schedule to “pay every month” if your provider accepts monthly premium payments. Different insurance providers offer various payment options, including the ability to switch to monthly payments. If it doesn’t, it would be a smart idea to buy coverage from another provider when the current policy expires.