The Super Visa Insurance – All You Need To Know

If you have children and grandchildren settled abroad, you desire to visit them occasionally. However, the humongous amount of documentation and approvals forces you to restrict it to a single or at the most two visits.

In December 2011, the Canadian Government introduced a new insurance scheme called the Super Visa Insurance. It covers unexpected medical expenses while residing in Canada. It also pays up if you fall sick on a side trip, if majority of the period is spent in Canada. With a validity of 10 years, there are fewer hassles in planning a trip to Canada. You can visit the country for up to 2 years per visit without having to renew your status during these 10 years. It permits multi-entries into the country. The Super Visa insurance covers you for a minimum amount of $100,000. The insurance benefits include hospitalization, health care and repatriation. This is an individual visa application; it does not include your dependants.

Now every visa and insurance plan has its own terms and conditions; hence if you would like to apply for the same, here’s more on the eligibility criteria and procedures.

Are you eligible?

The first major criterion for the Super Visa Insurance is that you should be a parent or grandparent of a Canadian citizen or a permanent resident of Canada. The second major requirement for the Visa is insurance. The applicant should have private medical insurance from a Canadian company for a period of at least one year. The applicant will be required to submit proof of the same for the application to get approved.

On applying, you will also have to provide a copy of the letter of invitation from the relative inviting you to Canada. This letter specifies the number of persons in the household as well as outlines the details for the plan of care while you stay there. To add, the applicant has to provide documents stating that their children or grandchildren meet the minimum income threshold and that they will provide all the financial support during your stay in Canada.

What after applying?

If you fulfill all the above mentioned criteria, you should submit your application attached with the required document. The Citizenship and Immigration Canada (CIC) processes documents after scrutinizing them.

After your application has been approved by the CIC, it is handed down to the Visa Officer. He decides if he would like to have an interview with you and schedules the same. Accordingly, you will be notified of the time, place and date.

The visa office might ask you to undergo a medical exam before you enter Canada. The Visa officer will provide all the instructions and directives including how and where the medical examination will be conducted. The medical examination usually delays the approval process, as the Visa office waits for the results before going ahead with the procedure. Another document that you might be asked to provide is a police certificate.

Once the Super Visa insurance is approved, your passport will be stamped and all your original documents will be returned. If your application is not approved, it will be returned to you with a letter of explanation.

Introduction to Term Life Insurance in Canada

First of all, it is very important for you to understand what the term life insurance means. It is basically the insurance that pays death benefit to the beneficiaries only if the insurer has died within the decided time of the insurance. If the insurer dies after the time limit, the insurance company is not going to pay anything to the beneficiaries. The time limit can vary from 5-20 years, depending upon the policy plan.

If you are trying to find the best term life insurance in Canada, you should look for your options online. You can find plenty of websites offering information and help regarding this information. When it comes to Canada, it has more than thirty five companies offering different policies.

You can also contact brokers in Canada if you want to learn more about the different policies. It is possible to find cheap term life insurance in Canada, which is indeed a great option for young people. Canada Trust is a company that offers insurance at reasonable prices. The best thing about Canada Trust is that they take care of everything and you do not have to go through any hassle. You can fill a form online and their agents will contact you for different requirements.

Canada Life is another company offering different life covers, which also include term life insurance in Canada. They offer affordable life coverage. Also, the premium guaranteed remains the same for the upcoming ten to twenty years. Your needs does matter a lot. Another good thing about Canada Life is that you do not have to show any medical evidences at the time of renewal. You can also convert your plan into a permanent life insurance plan.

HSBC is a huge name in the banking sector. It also provides term life insurance in Canada. The duration of HSBC insurance is from 10-20 years. The coverage ranges from $25,000 to $250,000. HSBC offers the simplest plan and getting the insurance is not difficult at all. You do not have to go through millions of tests. All you need to do is to answer 7 simple health questions. You can also get quick online quotes and instant coverage. This insurance comes with 30-days money back guarantee. These terms and conditions are only available in Canada.

You can buy the policies of many different companies in order to get term life insurance in Canada. In many provinces of Canada, these companies offer insurance policies covering 5, 10, 20, and 30 year periods. You can renew these policies at higher premiums to age 70 or 95. The good thing about their insurance plan is that you can get it at affordable prices initially. It has adjustable premium rates and renewal ability. Last but not least, you can convert the term insurance to a permanent life insurance.

You can easily find the best financial institute or bank in this regard. All you need to do is look for your options and then select the one which is best suitable for you.