- Privacy Policy
- Terms of Service
- Cookies Settings
- Phone
- Office
123 Sample St, Sydney NSW 2000 AU
These FAQs provide a foundational understanding of travel emergency medical insurance. For personalized advice, it’s recommended to consult with a travel insurance specialist or refer to official resources from reputable insurance providers.
Life insurance is a contract between an individual and an insurance company, where the insurer provides a tax-free lump-sum payment, known as a death benefit, to designated beneficiaries upon the insured’s death. This benefit helps loved ones manage financial obligations and maintain their standard of living.
Life insurance provides financial security for your dependents, covering expenses such as funeral costs, outstanding debts, mortgage payments, and future needs like children’s education. It ensures your family’s financial stability in your absence.
The primary types of life insurance are:
Term life insurance provides coverage for a predetermined period. If the insured passes away during this term, the beneficiaries receive the death benefit. If the term expires while the insured is still alive, coverage ends unless renewed or converted to a permanent policy.
Whole life insurance is a type of permanent insurance that offers lifetime coverage with fixed premiums. It accumulates cash value over time, which can be borrowed against or withdrawn, providing both a death benefit and a savings component.
The amount of coverage depends on factors like your income, debts, living expenses, and future financial goals. A common approach is to have coverage equal to 5-10 times your annual income, but it’s advisable to assess your specific needs or consult a financial advisor.
Yes, you can hold multiple policies to meet various financial needs. For instance, you might have a term policy for mortgage protection and a permanent policy for lifelong coverage.
Generally, life insurance premiums are not tax-deductible for individuals. However, the death benefit received by beneficiaries is typically tax-free.
Premiums are influenced by:
Yes, many insurers offer policies to individuals with pre-existing conditions, though premiums may be higher. Some companies specialize in high-risk applicants or offer no-medical-exam policies.
A beneficiary is a person or entity designated to receive the death benefit from a life insurance policy upon the insured’s death. You can name multiple beneficiaries and specify the distribution percentage for each.
Yes, as the policyholder, you can modify your beneficiaries at any time by contacting your insurance provider and completing the necessary forms.
Missing a payment may initiate a grace period (typically 30 days) during which you can pay the overdue premium without losing coverage. If the premium isn’t paid within this period, the policy may lapse.
Many insurers allow reinstatement of a lapsed policy within a specific timeframe (e.g., 30 days), often requiring payment of missed premiums and proof of insurability.
A rider is an add-on to a life insurance policy that provides additional benefits or coverage options, such as critical illness coverage, waiver of premium, or accidental death benefit. Riders allow customization of the policy to suit individual needs.
It depends on the policy type and coverage amount. Traditional policies often require a medical exam, while no-medical-exam policies are available, usually with higher premiums or lower coverage limits.
Yes, you can cancel your policy at any time. However, it’s essential to understand the implications, such as loss of coverage and potential surrender charges for permanent policies with cash value.
The contestability period is a timeframe (usually two years) during which the insurer can investigate and deny claims due to misrepresentation or fraud in the application. After this period, claims are generally incontestable except in cases of fraud.
Most policies have a suicide exclusion clause, typically lasting two years from the policy’s start date. If the insured commits suicide within this period, the insurer may deny the claim. After the exclusion period, suicide is usually covered.
Critical illness insurance provides a tax-free lump-sum payment if you’re diagnosed with a covered life-altering illness. This benefit can help cover medical expenses, replace lost income, or fund necessary lifestyle changes.
Commonly covered illnesses include life-threatening cancer, heart attack, and stroke. Coverage specifics can vary by policy, so it’s essential to review the terms carefully.
Yes, because life insurance provides benefits after death, whereas critical illness insurance offers financial support upon the diagnosis of a covered illness, helping you manage expenses during recovery.
Disability insurance replaces a portion of your income if you’re unable to work, but it may not cover additional expenses related to a critical illness. Critical illness insurance provides a lump-sum payment to use as needed.
The amount depends on your personal circumstances, including income, debts, and family needs. Some suggest coverage that replaces six months of income, but individual needs may vary.
Typically, pre-existing conditions are not covered. It’s crucial to disclose your medical history accurately when applying to understand any exclusions.
Yes, but premiums may be higher, or certain conditions might be excluded. Each insurer has different underwriting criteria.
The lump-sum payment is tax-free and can be used at your discretion, such as covering medical bills, paying off debts, or modifying your home for accessibility.
Policies often have a survival period, requiring you to survive a certain number of days (e.g., 30 days) after diagnosis before the benefit is payable.
Yes, insurers often have minimum and maximum age limits, commonly ranging from 18 to 65 years old.
Coverage varies; some policies cover only life-threatening cancers, excluding early-stage or less severe forms.
Some insurers offer riders to add children’s critical illness coverage to your policy, providing financial support if a covered illness is diagnosed.
No, the benefit is typically paid regardless of other insurance policies you hold
Some policies offer a return of premium feature, refunding a portion of premiums paid if no claim is made by a certain age or after a specific period.
Contact your insurer to obtain a claim form, provide necessary medical documentation, and follow their claims process.
Yes, you can hold multiple policies, and each will pay out independently upon a valid claim.
Premiums can be level (fixed) for the term of the policy or renewable, meaning they may increase at specified intervals.
It’s an optional feature that refunds some or all of the premiums paid if no claim is made by a certain date or if the policyholder passes away without making a claim.
Generally, mental health conditions are not covered under critical illness insurance policies.
Yes, you can purchase individual policies for your spouse or add them as a rider to your existing policy, depending on the insurer’s offerings.
Most critical illness insurance policies do not accumulate cash value; they are designed to provide a lump-sum payment upon diagnosis of a covered condition.
Term policies provide coverage for a specific period (e.g., 10, 20 years), while permanent policies offer lifelong coverage, often with higher premiums.
Yes, common exclusions include self-inflicted injuries, drug or alcohol abuse, and non-disclosure of pertinent medical information.
A family history of certain illnesses may influence underwriting decisions, potentially leading to higher premiums or exclusions.
Yes, you can cancel your policy, but terms vary. Some policies may offer a refund of premiums within a free-look period after purchase.
Disability insurance offers financial protection by replacing a portion of your income if you’re unable to work due to illness or injury.
There are two primary types:
Most long-term disability plans replace 60% to 70% of your normal income.
If your employer pays the premiums, benefits are generally taxable. If you pay the premiums with after-tax dollars, benefits are typically tax-free.
The elimination period is the waiting time between the onset of a disability and when benefits begin, often ranging from 30 to 180 days.
Yes, you can have multiple policies, but the total benefits are usually coordinated to not exceed a certain percentage of your income, often between 60% to 85%
Definitions vary but generally include:
Many policies cover mental health conditions, but coverage specifics and any limitations should be reviewed in the policy details.
Yes, many policies require you to apply for other benefits, such as Canada Pension Plan (CPP) Disability benefits, and may offset your disability benefits by the amount received from other sources.
Some policies offer partial or residual disability benefits, allowing you to receive a portion of your benefits while working part-time.
Coverage for pre-existing conditions varies by policy. Some may exclude them, while others may cover them after a waiting period.
Benefits duration varies; some policies pay until a specific age (e.g., 65), while others have a set benefit period (e.g., 5 or 10 years).
Yes, many policies have offset provisions that reduce your benefits if you receive income from other sources, such as CPP Disability benefits.
A non-cancellable policy guarantees that the insurer cannot cancel your policy or increase premiums, provided you continue to pay premiums on time.
While savings can provide a financial cushion, disability insurance offers ongoing income replacement, preserving your savings for other needs.
Some policies may require participation in reasonable rehabilitation programs to continue receiving benefits.
Premiums vary based on factors like age, occupation, health, coverage amount, and benefit period.
Yes, self-employed individuals can purchase individual disability insurance policies tailored to their needs.
This rider waives premium payments during periods when you’re receiving disability benefits, keeping your policy in force without cost.
Contact your insurer to obtain claim forms, provide required medical documentation, and follow their specific claims process.
Yes, claims can be denied for reasons such as insufficient medical evidence, non-disclosure of medical history, or not meeting the policy’s definition of disability.
Review the denial letter, gather additional supporting documentation, and consider appealing the decision or consulting a legal professional.
Workplace injuries are typically covered by workers’ compensation. Disability insurance usually covers injuries or illnesses that occur outside of work.
Yes, you can cancel your policy at any time, but it’s advisable to have alternative coverage in place before doing so.
Yes, policies often have a waiting period, known as the elimination period, which is the time you must wait after becoming disabled before benefits begin.
Non-medical life insurance is a policy that doesn’t require applicants to undergo medical exams, blood tests, or provide detailed health records. Approval is based on a health questionnaire.
Individuals with pre-existing health conditions, those who have been declined traditional coverage, or anyone seeking quicker approval without medical tests.
Traditional policies often require medical exams and detailed health information, potentially leading to lower premiums for healthy individuals. Non-medical policies skip the medical exam, offering faster approval but may have higher premiums.
Yes, primarily two types: simplified issue (requires a health questionnaire) and guaranteed issue (no health questions asked).
A type of non-medical insurance requiring applicants to answer basic health questions, with no medical exam needed.
A policy that offers coverage without any medical exams or health questions, typically with higher premiums and lower coverage amounts.
Generally, yes. Due to the reduced underwriting process, insurers may charge higher premiums to offset the increased risk.
Coverage limits vary by insurer, but non-medical policies often offer lower maximum amounts compared to traditional policies.
Approval and coverage can be obtained much faster than traditional policies, sometimes even instantaneously.
Yes, eligibility ages vary by insurer and policy type. For example, Sun Life offers guaranteed life insurance to individuals between 30 and 74 years old.
Yes, non-medical policies are designed to accommodate individuals with health issues that might disqualify them from traditional policies.
Some policies may have a waiting period, especially guaranteed issue ones, during which only accidental death is covered. It’s essential to review policy details.
Conversion options depend on the insurer and specific policy terms. Some policies may allow conversion, while others may not.
Many non-medical life insurance policies offer fixed premiums, meaning they remain the same throughout the policy term.
Yes, you can designate any person or entity as your beneficiary, similar to traditional life insurance policies.
Policies typically have a grace period for missed payments. If payments aren’t made within this period, the policy may lapse.
Yes, various insurers offer non-medical life insurance policies throughout Canada.
Non-medical term insurance is generally issued on an individual basis. However, if both applicants are in good health, joint coverage without medical exams may be available.
Yes, smokers typically pay higher premiums due to increased health risks, even with non-medical policies.
Policies may have exclusions, such as death resulting from certain activities or pre-existing conditions. It’s crucial to review the policy details.
Applications can often be completed online or over the phone, involving a health questionnaire without the need for medical exams.
Some insurers provide coverage for individuals on work permits or student visas, though coverage amounts may be limited.
Non-medical life insurance is an option for those who have been declined traditional coverage due to health issues.
Permanent non-medical life insurance policies may accumulate cash value over time, similar to traditional whole life policies.
Consider factors like coverage amount, premium costs, policy terms, and any exclusions. Consulting with an insurance advisor can help determine the best fit for your needs
A TFSA is a registered account that allows Canadians aged 18 and older to save or invest money tax-free throughout their lifetime. Contributions are not tax-deductible, but withdrawals, including investment income and capital gains, are tax-free.
Any Canadian resident aged 18 or older with a valid Social Insurance Number (SIN) can open a TFSA.
TFSAs can hold various qualified investments, including cash, mutual funds, securities listed on a designated stock exchange, guaranteed investment certificates (GICs), bonds, and certain shares of small business corporations.
The annual contribution limit is subject to change. As of 2025, the cumulative contribution room for someone who has been eligible since 2009 is $102,000. It’s essential to verify the current year’s limit, as it may be adjusted for inflation.
Your contribution room accumulates each year and consists of:
Over-contributions are subject to a tax equal to 1% of the highest excess TFSA amount in the month, for each month that the excess remains in your account.
Yes, you can withdraw funds from your TFSA at any time, and the withdrawals are tax-free. The amount withdrawn is added back to your contribution room in the following year.
No, any income earned within a TFSA, including interest, dividends, and capital gains, is not reportable on your tax return.
Yes, you can hold multiple TFSA accounts across different financial institutions. However, your total contributions across all accounts must not exceed your available TFSA contribution room.
If you become a non-resident, you can keep your TFSA, and it will continue to grow tax-free. However, you cannot contribute to it while you’re a non-resident, and any contributions made during this period are subject to a 1% tax for each month the contribution stays in the account.
No, contributions to a TFSA are not tax-deductible.
Yes, depending on the policies of your financial institution, you may be able to use your TFSA as collateral for a loan.
TFSA withdrawals are not considered income and therefore do not affect income-tested government benefits or credits, such as Old Age Security (OAS) or the Guaranteed Income Supplement (GIS).
Yes, you can transfer funds from an RRSP to a TFSA, but the amount will be considered a withdrawal from the RRSP and will be taxed as income. The transferred amount will also count against your TFSA contribution room.
Upon your death, the treatment of your TFSA depends on whether you’ve named a successor holder or a beneficiary. A successor holder (only your spouse or common-law partner) can take over the TFSA without affecting their own contribution room. A beneficiary will receive the TFSA’s proceeds tax-free, but the account will no longer be tax-exempt.
Yes, you can hold foreign investments in your TFSA. However, foreign dividends may be subject to withholding taxes by the country of origin, and these taxes are not recoverable.
While you can actively manage investments within your TFSA, excessive trading may be considered carrying on a business by the Canada Revenue Agency (CRA), and any resulting income could be taxable.
Yes, you can give your spouse or common-law partner money to contribute to their TFSA without the attribution rules applying. The contributions will count against their TFSA contribution room, not yours.
Your TFSA room is available on your Notice of Assessment for last year.
An RESP is a savings account registered with the Government of Canada that allows you to save for a child’s post-secondary education. Contributions grow tax-deferred, and the government may provide grants to enhance savings.
Anyone, including parents, grandparents, relatives, or friends, can open an RESP for a beneficiary, provided they have the beneficiary’s Social Insurance Number (SIN).
The beneficiary must be a Canadian resident with a valid SIN. There are no age restrictions; however, government grants have specific age limitations.
The lifetime contribution limit per beneficiary is $50,000.
There are no annual contribution limits; however, to maximize government grants, specific annual contributions are recommended.
The CESG is a federal grant that matches 20% of annual contributions to an RESP, up to $500 per year, with a lifetime maximum of $7,200 per beneficiary.
Yes, families with lower incomes may qualify for an additional CESG of 10% or 20% on the first $500 contributed annually.
The CLB is a grant for children from low-income families, providing an initial $500 and an additional $100 per eligible year, up to a maximum of $2,000.
Yes, multiple RESPs can be opened for the same beneficiary, but the total contributions across all plans cannot exceed the lifetime limit of $50,000.
There are three types:
RESPs can hold various investments, including savings accounts, GICs, mutual funds, stocks, and bonds.
Contributions grow tax-deferred, meaning investment earnings are not taxed as long as they remain in the plan.
Contributions can be withdrawn tax-free. Investment earnings and government grants withdrawn as Educational Assistance Payments (EAPs) are taxed in the beneficiary’s hands, who likely has a lower tax rate.
EAPs consist of the investment earnings and government grants paid to the beneficiary to finance post-secondary education expenses.
RESP funds can be used for tuition, textbooks, housing, transportation, and other education-related expenses.
Options include:
An RESP can remain open for up to 36 years, allowing beneficiaries ample time to use the funds.
Yes, beneficiaries can be changed, especially within family plans, provided the new beneficiary is under 21 and related by blood or adoption.
Fees vary by provider and may include account setup fees, annual maintenance fees, and investment management fees.
Contributions can be made until the beneficiary turns 31; however, CESG grants are only available until the end of the calendar year the beneficiary turns 17.
You can open an RESP through financial institutions, credit unions, or certified RESP providers. You’ll need the beneficiary’s SIN and birth certificate.
Only Canadian residents can open an RESP, and the beneficiary must also be a resident of Canada to receive government grants.
Over-contributions are subject to a 1% per month tax on the excess amount until it is withdrawn.
Yes, transfers between RESPs are permitted, especially between individual and family plans, without tax consequences, provided certain conditions are met.
Some provinces offer additional grants, such as the Quebec Education Savings Incentive (QESI) and the British Columbia Training and Education Savings Grant (BCTESG).
An RRSP is a tax-deferred savings plan designed to help Canadians save for retirement. Contributions are tax-deductible, and investments within the plan grow tax-free until withdrawal.
Any Canadian resident under the age of 71 with earned income and a valid Social Insurance Number (SIN) can open an RRSP.
Your annual contribution limit is 18% of your previous year’s earned income, up to a maximum dollar amount set by the government, minus any pension adjustments. Unused contribution room from previous years carries forward indefinitely.
Contributions must be made within 60 days after the end of the calendar year to be deductible for that tax year.
Yes, contributions can be deducted from your taxable income, reducing the amount of income tax you owe for the year.
RRSPs can hold a variety of investments, including savings accounts, Guaranteed Investment Certificates (GICs), bonds, mutual funds, and equities.
You can withdraw funds at any time, but withdrawals are added to your taxable income for the year and may be subject to withholding tax.
Withdrawals are taxed as ordinary income. The financial institution will withhold a portion of the withdrawal as tax, but you may owe more or less tax depending on your total income for the year.
The HBP allows first-time homebuyers to withdraw up to $35,000 from their RRSPs tax-free to purchase or build a qualifying home, with the requirement to repay the withdrawn funds over 15 years.
The LLP enables individuals to withdraw up to $10,000 per year from their RRSPs, to a maximum of $20,000, to finance full-time education or training for themselves or their spouse or common-law partner. Withdrawn amounts must be repaid over a 10-year period.
By the end of the year you turn 71, you must convert your RRSP into a Registered Retirement Income Fund (RRIF), purchase an annuity, or withdraw the funds as a lump sum, which would be fully taxable.
Yes, you can hold multiple RRSP accounts with different financial institutions, but your total contributions across all accounts cannot exceed your annual contribution limit.
A spousal RRSP allows one spouse to contribute to the other spouse’s RRSP. This strategy can help split income in retirement, potentially reducing the overall tax burden.
es, over-contributions are subject to a 1% per month penalty tax on the excess amount. However, there is a $2,000 lifetime over-contribution allowance that is not penalized, though it is not tax-deductible.
Yes, certain transfers are allowed, such as from a Registered Pension Plan (RPP) or another RRSP, without affecting your contribution room.
Contributions to an RRSP are tax-deductible, and withdrawals are taxed as income. In contrast, TFSA contributions are made with after-tax dollars, but withdrawals, including investment gains, are tax-free.
Non-residents can hold and contribute to an existing RRSP, but contributions may not be tax-deductible, and withdrawals may be subject to different tax rules.
The RRSP’s value is typically included in your income for the year of death. However, if your spouse or a financially dependent child or grandchild is the beneficiary, the funds can be transferred to their RRSP or RRIF on a tax-deferred basis.
No, assets held within an RRSP cannot be used as collateral for a loan.
RRSP contributions reduce your taxable income, which lowers both federal and provincial taxes, but there are no specific provincial tax credits for RRSP contributions.
Yes, as long as you have earned income and are under the age of 71, you can contribute to your RRSP.
Income from foreign investments within an RRSP is generally tax-deferred, similar to Canadian investments. However, foreign governments may withhold taxes on income such as dividends, which may not be recoverable.
When you withdraw funds from your RRSP, the financial institution withholds a portion as tax. The rate depends on the amount withdrawn and ranges from 10% to 30%.
An FHSA is a registered savings plan that allows eligible Canadians to save for their first home on a tax-free basis. Contributions are tax-deductible, and withdrawals used for purchasing a qualifying home are tax-free.
To be eligible, you must be a Canadian resident aged 18 or older and a first-time homebuyer, meaning you have not owned a home that you occupied as your principal residence in the current year or any of the previous four calendar years.
You can contribute up to $8,000 per year, with a lifetime maximum contribution limit of $40,000. Unused contribution room can be carried forward, but the maximum carry-forward amount is $8,000.
Yes, contributions to an FHSA are tax-deductible, reducing your taxable income for the year in which the contribution is made.
The FHSA allows for tax-free withdrawals without the requirement to repay the funds, whereas the HBP permits tax-free withdrawals from an RRSP for a home purchase but requires repayment within 15 years.
Yes, eligible individuals can combine withdrawals from both the FHSA and the HBP to purchase their first home.
Similar to RRSPs and TFSAs, FHSAs can hold various qualified investments, including mutual funds, publicly traded securities, government and corporate bonds, and guaranteed investment certificates (GICs).
If you do not use the funds for a qualifying home purchase within 15 years of opening the FHSA or by the end of the year you turn 71 (whichever comes first), the remaining funds can be transferred tax-free to an RRSP or a Registered Retirement Income Fund (RRIF), without affecting your RRSP contribution room.
Withdrawals used for a qualifying home purchase are tax-free. Non-qualifying withdrawals are included in your taxable income for the year and may be subject to withholding taxes.
Yes, you can open more than one FHSA, but the annual and lifetime contribution limits apply to the total contributions across all your FHSAs.
A qualifying home is a housing unit located in Canada that you intend to occupy as your principal residence within one year of purchase.
Yes, you can transfer funds from your RRSP to your FHSA on a tax-free basis, subject to your FHSA contribution limits. However, such transfers do not restore your RRSP contribution room.
Over-contributions are subject to a 1% tax per month on the excess amount until it is withdrawn or absorbed by new contribution room in a subsequent year.
Yes, the contribution deadline is December 31 of each year. Contributions made within the first 60 days of a new year cannot be applied to the previous year’s tax return.
Yes, if you contribute less than $8,000 in a given year, you can carry forward the unused amount to the following year, up to a maximum carry-forward of $8,000.
An FHSA can remain open for up to 15 years from the year it is opened or until the end of the year you turn 71, whichever comes first.
Yes, each spouse can open their own FHSA, and both can contribute up to the annual and lifetime limits independently.
No, unlike the HBP, withdrawals from an FHSA used for a qualifying home purchase do not need to be repaid.
If you become a non-resident, you can no longer contribute to your FHSA, and any withdrawals will be subject to withholding tax. It’s advisable to consult a tax professional for guidance in this situation.
No, direct transfers from an FHSA to a TFSA are not permitted. However, if you do not use your FHSA funds for a home purchase, you can transfer the funds tax-free to an RRSP or RRIF instead.
If the account holder passes away, the FHSA can be transferred to their spouse or common-law partner’s FHSA, RRSP, or RRIF tax-free. If there is no eligible spouse or partner, the remaining balance will be included in the account holder’s taxable income.
No, once an FHSA is closed, it cannot be reopened. If you have unused contribution room, you can open a new FHSA, but the total lifetime contribution limit across all FHSAs remains $40,000.
It’s a type of insurance designed to cover emergency medical expenses for individuals visiting Canada who are not covered by the Canadian public healthcare system. This includes tourists, international students, temporary workers, and new immigrants.
Canada’s public healthcare system does not extend coverage to non-residents. Without insurance, visitors are responsible for the full cost of any medical services, which can be prohibitively expensive.
Coverage often includes hospitalization, physician services, ambulance transportation, emergency dental care, prescription medications, and repatriation. Specific benefits can vary between policies.
Coverage for pre-existing conditions depends on the policy. Some plans may cover stable pre-existing conditions, while others may exclude them entirely. It’s crucial to review the policy details regarding pre-existing conditions.
Premiums vary based on factors such as the visitor’s age, health status, length of stay, and the chosen coverage amount. For example, a 35-year-old visitor might pay between $35 to $42 per month, depending on the deductible selected.
It’s advisable to purchase insurance before arriving in Canada to ensure coverage begins upon entry. Some insurers allow purchase within a certain period after arrival, but there may be a waiting period before coverage becomes effective.
Yes, many insurers offer policies that can be purchased after arrival. However, there might be a waiting period (e.g., 72 hours) before coverage starts, especially for illnesses.
A deductible is the amount you agree to pay out-of-pocket before the insurance coverage kicks in. Choosing a higher deductible can lower your premium but increases your initial costs in the event of a claim.
Age limits vary by insurer and policy. Some plans offer coverage up to age 85, while others may have different age restrictions. It’s important to check the specific policy details.
Many policies now include coverage for COVID-19-related medical emergencies, provided the virus was not contracted before the policy’s effective date. Always confirm with the insurer regarding their specific COVID-19 coverage.
Yes, many insurers allow policy extensions, but you must request the extension before the current policy expires and while you are still in good health. Approval is subject to the insurer’s discretion.
Some policies include coverage for side trips to other countries, provided the majority of your time is spent in Canada. It’s essential to verify this feature in your policy.
Typically, expenses related to pregnancy, childbirth, or complications thereof are excluded from coverage. However, some policies may offer limited benefits. It’s important to review the policy terms carefully.
In the event of a medical emergency, contact the insurer’s emergency assistance hotline immediately. They can guide you through the process, which usually involves submitting a claim form along with original receipts and medical reports.
Cancellation and refund policies vary by insurer. Some may offer a full or partial refund if no claims have been made and the request is within a certain timeframe. Always check the specific terms and conditions.
If the policy is purchased after arrival in Canada, there is often a waiting period (e.g., 72 hours) for illness coverage. Accidents are typically covered immediately.
Many policies provide limited coverage for accidental dental injuries and may offer some benefits for unexpected dental pain. Review the policy details for specific coverage limits.
Common exclusions include routine medical check-ups, pre-existing conditions that are not stable, participation in high-risk activities, and intentional self-harm. Each policy will have a detailed list of exclusions.
Most policies allow you to visit any licensed medical facility. However, contacting the insurer’s emergency assistance service can help direct you to preferred providers and manage costs effectively.
Yes, many insurers offer family plans that cover multiple members under a single policy. Family plans are often more cost-effective than purchasing individual policies for each member.
Many policies include coverage for emergency medical evacuation or repatriation, which covers the cost of transporting you back to your home country if medically necessary.
Yes, most plans cover prescription medications needed for emergency treatments. However, medications for ongoing or pre-existing conditions are usually excluded.
To file a claim, you will need to contact the insurer, provide the required documentation (e.g., medical records, receipts), and complete their claims form. It’s essential to notify your insurer as soon as possible after a medical incident.
Yes, many insurers allow cancellations if you leave Canada before your policy’s end date. Refunds are often prorated and may include an administrative fee. Confirm the cancellation policy with your insurer before purchasing.
Some provinces offer additional grants, such as the Quebec Education Savings Incentive (QESI) and the British Columbia Training and Education Savings Grant (BCTESG).
It is a type of insurance that covers unexpected medical expenses incurred while traveling outside your home province or country. This includes costs related to hospitalization, physician services, and emergency medical treatments.
Provincial health plans offer limited coverage for medical expenses incurred outside your home province or country. Travel Emergency Medical Insurance ensures you are protected against potentially high medical costs abroad.
Coverage often includes emergency medical treatments, hospitalization, ambulance services, prescription medications, and emergency dental care. Some policies may also cover medical evacuation and repatriation.
Coverage for pre-existing conditions varies by policy. Some insurers may cover stable pre-existing conditions, while others may exclude them. It’s crucial to review the policy details regarding pre-existing conditions.
Premiums depend on factors such as age, health status, trip duration, and coverage amount. For example, a 20-day multi-trip plan for a family might cost around $450 per year.
It’s advisable to purchase insurance as soon as you book your trip to ensure coverage for any unforeseen events that may occur before or during your travels.
Some insurers allow you to purchase coverage after departure, but there may be restrictions or waiting periods. It’s best to secure insurance before leaving Canada.
A deductible is the amount you are required to pay out-of-pocket before your insurance coverage begins. Choosing a higher deductible can lower your premium but increases your initial costs in the event of a claim.
Age limits vary by insurer and policy. Some plans offer coverage up to a certain age, while others may have different age restrictions. It’s important to check the specific policy details.
Many policies now include coverage for COVID-19-related medical emergencies, provided the virus was not contracted before the policy’s effective date. Always confirm with the insurer regarding their specific COVID-19 coverage.
Yes, many insurers allow policy extensions, but you must request the extension before the current policy expires and while you are still in good health. Approval is subject to the insurer’s discretion.
Contact your insurance provider’s emergency assistance hotline immediately. They will guide you on the steps to take, including locating medical facilities and arranging payment.
Activities like skydiving, scuba diving, or mountain climbing may be excluded or require additional coverage. Review your policy to understand the inclusions and exclusions related to high-risk activities.
Some travel insurance policies include trip cancellation or interruption coverage, while others offer it as an add-on. This coverage reimburses non-refundable trip costs if you need to cancel or interrupt your trip due to covered reasons.
Yes, policies have maximum coverage limits, which can range from $1 million to $10 million CAD, depending on the insurer and plan.
While your provincial health plan covers basic medical expenses across Canada, travel insurance can provide additional benefits like ambulance services, prescription drugs, and emergency dental care not covered by provincial plans.
A single-trip policy covers one specific trip, while a multi-trip (or annual) policy covers multiple trips within a year, with each trip having a maximum duration limit.
Emergency prescription medications required due to a covered medical emergency during your trip are typically covered. However, routine medications or those for pre-existing conditions may not be included.
To file a claim, contact your insurer as soon as possible, provide necessary documentation (e.g., medical records, receipts), and complete any required claim forms.
Many insurers allow policy cancellations with a full or partial refund if no claims have been made and the request is made before the departure date. Check your policy’s cancellation terms for specifics.
Some travel insurance policies include coverage for lost, stolen, or damaged baggage and personal effects. This coverage may be part of a comprehensive plan or available as an add-on.
A stability clause refers to a period (e.g., 90 or 180 days) during which a pre-existing medical condition must have remained stable (no changes in treatment or symptoms) for it to be covered under the policy.
Travel insurance is not legally required for Canadians traveling abroad, but it is highly recommended to protect against unforeseen medical expenses and other travel-related risks.
Some credit cards offer travel insurance as a benefit. However, coverage limits and conditions may apply. It’s important to review the details and consider purchasing additional coverage if necessary.
Assess your specific needs, including destination, trip duration, health status, and planned activities. Compare different policies, coverage limits, exclusions, and premiums.
Super Visa Insurance is a mandatory medical insurance required for parents and grandparents of Canadian citizens or permanent residents applying for a Super Visa. It ensures that visitors have adequate health coverage during their stay in Canada.
The Canadian government mandates Super Visa Insurance to ensure that visitors do not become a burden on Canada’s publicly funded healthcare system. It guarantees that in case of medical emergencies, the visitors have the financial means to cover their healthcare expenses.
Applicants must have a health insurance policy with a minimum coverage of $100,000 CAD. This policy must cover healthcare, hospitalization, and repatriation.
The insurance policy must be valid for at least one year from the date of entry into Canada.
No, the insurance must be obtained from a Canadian insurance company.
Coverage for pre-existing conditions varies by insurer. Some policies may cover stable pre-existing conditions, while others may exclude them. It’s essential to review the policy details and consult with the insurer.
The cost of Super Visa Insurance depends on factors such as the applicant’s age, health condition, coverage amount, and deductible. On average, premiums can range from $100 to $200 per month.
Yes, as of December 2022, some insurance providers offer monthly payment plans for Super Visa Insurance. However, it’s essential to verify this option with the chosen insurer.
While the Super Visa application requires an immigration medical exam, obtaining Super Visa Insurance typically does not require medical testing. Applicants usually need to complete a medical questionnaire.
Most policies cover emergency medical treatment, hospitalization, ambulance services, prescription medications, and repatriation. Specific coverages can vary between insurers.
Many insurance providers offer a full refund if the Super Visa application is denied, provided no travel has taken place. It’s crucial to check the refund policy of the insurer.
Some insurers may offer a partial refund for the unused portion of the policy if no claims have been made. It’s essential to discuss this with the insurance provider before purchasing the policy.
Yes, if you plan to stay in Canada beyond the initial one-year coverage period, you must renew your insurance policy to maintain valid coverage during your stay.
Yes, many insurance providers offer policies with varying deductible amounts. Choosing a higher deductible can lower the premium but will require you to pay more out-of-pocket in case of a claim.
No, Super Visa Insurance policies are not transferable between providers. If you switch insurers, you’ll need to purchase a new policy and ensure continuous coverage.
Some policies may include limited coverage for dental emergencies resulting from accidental injury. It’s important to review the policy details to understand the extent of dental coverage.
No, travel insurance does not meet the specific requirements set by the Canadian government for the Super Visa. You must obtain a Super Visa Insurance policy that complies with the stipulated criteria.
The processing time for obtaining Super Visa Insurance varies by provider. It’s advisable to apply well in advance of your intended travel dates to ensure timely receipt of the policy.
Yes, most Super Visa Insurance policies cover prescription medications prescribed during a medical emergency. However, routine prescriptions for pre-existing conditions may not be covered.
Age limits vary by insurer. Some providers may have an upper age limit, while others offer coverage regardless of age. It’s essential to check with the insurance company regarding their age restrictions.
Yes, many insurers allow you to extend your coverage while in Canada, provided you apply before the current policy expires and meet the insurer’s requirements.
Super Visa Insurance is specifically designed to meet the requirements of the Super Visa, including a minimum coverage of $100,000 CAD and a validity of one year. Visitor Visa Insurance may have different coverage amounts and durations.
7003 Steeles Ave W #10,
Etobicoke ON M9W 0A2
Stay up to date on the latest features and releases by joining our newsletter.
By subscribing, you agree to our Privacy Policy and consent to receive updates from our company
123 Sample St, Sydney NSW 2000 AU