The Super Visa is a special initiative by the Canadian government that facilitates the multiple entry of parents and grandparents of Canadian citizens and Permanent Residents, who can visit their loved ones and family as many times as possible within a stipulated period.
A particularly important component to qualify for this type of visa is the Canada Super Visa Insurance. Super Visa Insurance needs to have a coverage of at least a hundred thousand Canadian dollars. This is quite a hefty sum for most. Here are 5 ways you can save money on your super visa insurance plan with ease:
- Shop early and lock in the rates: It’s a well-known fact that different companies calculate rates differently. If you start shopping early there are very high chances to get a really good deal on your Super Visa Insurance. The rates for the insurance plans keep changing and when you shop early you can have access to the changed rates. This gives you the benefit of holding a good rate while you search for another one.
However, be mindful that not all insurance providers have an option to lock in your rate at the moment of purchase. Shopping early can help you save a lot of money which you can further use to fund the stay of your parents and grandparents.
- Compare the plans: The plans for Super Visa Insurance vary from company to company. It is better to compare the rates and schemes. This can help increase your awareness of the plans and can enhance your chances of getting the perfect plan for your needs.
The Super Visa Insurance plan can be made monthly or on the whole. Always review the plans and offers available to you before you buy the insurance.
- Manage your deductibles well: By choosing a deductible you accept a responsibility to pay a certain amount of expenses for medical emergency treatment covered by the insurance – up to the deductible amount – in exchange for a lower premium payable for your insurance policy.
Taking a reasonable amount of deductible can work in your favor. It can help reduce the total amount of the super visa insurance plan. Although, it is not wise to write in a deductible that might be beyond your budget. You need to make sure you are eligible to cover the deductible if not this way of saving money could end up costing you more than what you saved.
- Don’t claim small expenses if your parents stay only a few months: Most people don’t stay in Canada for long and hence don’t need insurance coverage for an entire period. Most super visa insurance plans are built such that you can get a refund from them if your parents or grandparents stay only for a short duration.
So if the insurance premium is paid in full, and there are no claims, you can expect a refund for the number of unused days. This is why Insurance Gully advises you to cover small expenses out of your pocket.
- Hire an insurance broker: Having an expert insurance broker on your side could benefit you immensely. Insurance brokers are well aware of the market rates and can assist you through the entire process. They can even get you access to insurance providers giving the super visa insurance at lower rates or special and exclusive prices.
Why Insurance Gully?
You need an insurance provider that delivers expert advice, has access to one of the largest arrays of coverage options from Canada’s leading insurance providers and guarantees competitive rates. Insurance Gully meets these needs and more.
If you are looking for companies providing Super Visa Insurance in Mississauga, feel free to get in touch with Insurance Gully and set up a complimentary consultation.