Choosing the right coverage can be a daunting task especially if you are not familiar with insurance concepts.
We’ve put together a guide that you can use to figure out what kind of coverage you should be looking at when choosing a Visitors to Canada policy. Just keep in mind as this is a rough guideline and you should always speak to an insurance agent who has the necessary training to help you pick the policy that will protect you best.
The government of Canada made it more straightforward for people who go about choosing the coverage amount for their parents or grandparents. As of right now the minimum coverage required is $100,000 per insured individual.
Though this is the posted minimum we always encourage our clients to consider the applicant’s’ medical history when making a decision. While chances are low for someone who is a healthy 45 year old to rack up hefty medical bills, a 81 year old with heart problems might want to look at higher coverage. At minimum the coverage for preexisting conditions should be selected and you should work with your insurance broker to make sure the conditions are actually covered and do not fall under the exclusion list. In addition it is probably a good idea to look into higher coverage amount above and beyond the minimum amount mandated by the government of Canada. Just a reminder that Super Visa applicants can obtain up to $300,000 in emergency medical coverage and in complicated cases it might be a good idea to go for the maximum protection.
Young people from approved countries can travel to Canada for up to 2 years for work. It is a requirement for all applicants to have coverage for hospitalization, medical care and repatriation. We know money can be tight when you travel but it’s best to avoid running out of insurance when you are far from home. Most IEC participants also participate in sports so it’s a good idea to talk to an insurance broker to make sure sports is covered and you have adequate coverage for medical care.
We really don’t suggest going with a minimum of $10,000 even though it fulfill the requirements of the visa. It’s extremely easy to rack up thousands of dollars even with a non threatening injury. Speak to an advisor so that we can evaluate your situation and suggest optimal coverage.
People who are coming to Canada as tourists, new immigrants or returning Canadians usually need to purchase temporary short term insurance until they either qualify for provincial coverage or return back to their home countries.
Given that the insurance is short term many people might be tempted to go for the lowest coverage available. We usually advise against that since you can usually get double the coverage for just a few extra dollars and health care in Canada is not cheap by any means. A few days in the emergency room can quickly use up your coverage and leave you with a substantial bill to pay.
Applicants with preexisting conditions and those who need coverage for a longer period of time are encouraged to add coverage for their past illnesses/injuries and increase coverage. For younger people and short terms stays even higher levels of coverage are quite affordable- so no reason in taking a risk.
In conclusion it’s always best to speak to an insurance advisor about your insurance needs- you can start with looking at the quotes and reviewing benefits and costs and then speak to us if you need any help!