How to Save Money on Super Visa Insurance?

Since the Canadian government has introduced the Super Visa Insurance policy in 201, man Canadians and residents of Canada have been inviting their parents and grandparents to stay with them. With Super Visa Insurance, they can enter Canada multiple times for a valid period of years without the need of paying for every entry.

However, this policy has a component that can cost a good amount of money to purchase and i.e. the $100,000 medical insurance from a Canadian insurance company which should valid for at least a year. Well, it may seem a lot but there are ways how you can save money while purchasing a Super Visa Insurance, you are reading the right blog post to know about it. Here are some options on how you can save money on Super Visa Insurance:

• Apply early and lock in the rate: With super this type of policy, it’s always better to apply early. By doing this you can save money on premiums. You should know, that generally, premiums are based on the age of the applicant at the time of purchase. If a 64 years old person without any pre-existing medical condition would have to pay less than a 65-year-old, that’s how it works. This way you can save a good amount of money when purchasing this type of visa.
• Manage your deductible: When you are choosing a deductible, you’re accepting that you would pay a certain amount of the emergency expenses up to the deductible amount in exchange for paying a lower premium. You have a choice here. If based on your parent’s or grandparent’s medical history, if you think there won’t be any need of making a claim, you can choose a certain deductible option when purchasing the policy and save some money.
• Don’t claim small expenses: Super Visa Insurance has a validity of 1 year, however, most family members do not stay for the whole period. Now here is the good news, this type of policy does allow early departure and before going back to their home country, if they haven’t made any major claims you can expect a full refund of premium for the number of unused days till the policy expires. That is why it is advisable not to claim for small expenses.
• Check for the best plan:  Super Visa Insurance policy plans may change from provider to provider. That’s why it would be better if you search in the market before you purchase a plan for yourself. The benefits of doing this are, you will get to know the market and also have a wide range of options to choose from.
• Hire a broker:  You can always hire a broker to buy a policy. Brokers always have a better idea of the market rate will give you many options, and you won’t have to do any leg work. Just discuss your requirements with the broker, that’s all.

For more details, you schedule an appointment with Harpreet Puri, she will be more than happy to help you.