By rob eagar 
When applying for a Super Visa to bring your parents or grandparents to Canada, one of the most important requirements is securing Super Visa insurance. This insurance ensures that your loved ones are covered in the event of a medical emergency during their stay in Canada. However, the cost of Super Visa insurance can vary significantly depending on several factors.
In this guide, we’ll break down what affects Super Visa insurance cost, how to compare different plans, and where you can find the cheapest Super Visa insurance that offers comprehensive coverage for your family.
What is Super Visa Insurance?
Super Visa insurance is a mandatory travel insurance for parents and grandparents visiting Canada under the Super Visa program. This insurance protects visitors from unexpected medical expenses, covering a range of services, including:
- Emergency medical expenses
- Hospitalization
- Ambulance services
- Repatriation of remains (in case of death)
- Trip cancellation (in certain circumstances)
The insurance must meet the minimum requirement of $100,000 in emergency medical coverage, as specified by the Canadian government, and must be valid for at least one year from the date of entry into Canada.
Without this insurance, a Super Visa application will be rejected, making it essential for applicants to find an affordable yet comprehensive policy.
What Affects the Cost of Super Visa Insurance?
The Super Visa insurance cost is influenced by several factors. Understanding these variables will help you compare plans and find the most affordable options for your family. Here’s a breakdown of the key factors that affect Super Visa insurance costs:
1. Age of the Insured
The age of the applicant is one of the biggest factors influencing the cost of Super Visa insurance. Older individuals are considered higher risk and typically face higher premiums. Here’s how age affects the cost:
- Under 60 years old: Premiums tend to be the lowest, typically ranging from $1.00 to $3.00 per day.
- 60 to 70 years old: The cost increases slightly, usually ranging from $3.00 to $5.00 per day.
- Over 70 years old: The cost increases further, with premiums reaching $5.00 to $7.00 per day, or even higher, depending on the insurer.
2. Health of the Applicant
A person’s health condition can also impact the Super Visa insurance cost. Applicants with pre-existing medical conditions might face higher premiums, and in some cases, insurers may exclude coverage for certain conditions. However, there are policies available that cover pre-existing conditions, but these plans tend to be more expensive.
If your parent or grandparent has any health issues, be sure to look for Super Visa insurance plans that explicitly cover pre-existing conditions, even though the premium for these plans will be higher.
3. Duration of Stay
The longer the stay in Canada, the higher the Super Visa insurance cost will be. Insurance policies for long-term stays (such as those lasting one or two years) tend to be more expensive, but the cost per day may be lower compared to shorter stays. If the visitor’s stay is only a few months, the premiums may be higher, as the plan is covering a shorter period.
4. Coverage Amount
The amount of coverage you choose will directly affect the price. Super Visa insurance policies typically offer $100,000 of emergency medical coverage, but some providers may offer higher coverage limits for an additional cost. Comprehensive coverage plans that include benefits like trip interruption or coverage for dental emergencies will also raise the premium.
5. Insurance Provider
Different insurance providers have varying pricing models, coverage options, and exclusions. The cheapest Super Visa insurance may not always provide the most comprehensive coverage, so it’s essential to balance affordability with the level of coverage offered. Make sure to compare multiple quotes before making a decision.
How to Find the Cheapest Super Visa Insurance
While the cost of Super Visa insurance will vary depending on the factors listed above, there are several ways to find affordable plans. Here are some strategies to help you find the cheapest Super Visa insurance without sacrificing essential coverage:
1. Shop Around and Compare Quotes
The most effective way to find the cheapest Super Visa insurance is to shop around and compare quotes from different providers. Many insurance companies offer online tools that allow you to easily compare prices and coverage options for Super Visa insurance.
Be sure to compare the same level of coverage (e.g., $100,000 emergency medical coverage) to ensure you are getting an accurate comparison. Look for plans that offer the necessary protection at the lowest price.
2. Opt for a Higher Deductible
One way to lower your Super Visa insurance cost is by opting for a higher deductible. A deductible is the amount you must pay out-of-pocket before the insurance coverage kicks in. If you’re willing to take on more risk in the event of a claim, choosing a higher deductible can lower your monthly or annual premium.
However, be cautious when selecting a high deductible. Make sure you can afford the deductible amount in the event of an emergency.
3. Choose a Shorter Coverage Period
If your parent or grandparent is only visiting for a few months, consider choosing a Super Visa insurance plan for a shorter period. While longer stays come with lower daily premiums, the overall cost will be higher. If you’re able to adjust the coverage duration based on the visitor’s actual plans, you can save money.
For example, if the visitor’s stay is expected to last less than a year, look for policies that allow flexibility in the length of coverage, so you’re not overpaying for unnecessary insurance.
4. Look for Discounts and Special Offers
Many insurance providers offer discounts for longer coverage durations or for paying premiums upfront. If you can afford to pay the entire premium at once, you may be able to receive a discount, thus reducing the Super Visa insurance cost. Additionally, some insurers offer discounts for purchasing multiple policies, so if you’re covering multiple family members, you might get a better rate.
5. Check for Exclusions and Hidden Fees
When comparing Super Visa insurance, always read the fine print. Some cheapest Super Visa insurance plans may look affordable at first but might come with hidden fees or exclusions. These can increase the overall cost of the insurance or leave gaps in coverage. Ensure that the plan covers all essential medical services, such as emergency treatment, hospital stays, and repatriation, without unnecessary exclusions.
How Much Does Super Visa Insurance Cost?
The Super Visa insurance cost will depend on the factors discussed above, such as the age and health of the applicant, the duration of stay, and the level of coverage selected. On average, the Super Visa insurance cost can range from $1.00 to $7.00 per day:
- Under 60 years old: Expect to pay between $1.00 to $3.00 per day.
- 60 to 70 years old: Premiums typically range from $3.00 to $5.00 per day.
- Over 70 years old: The cost can increase to $5.00 to $7.00 per day or higher, depending on the insurer.
For a full year of coverage, the total cost may range from $300 to $2,500, depending on the factors mentioned earlier.
Conclusion
Understanding Super Visa insurance costs is essential to ensure that you get the best value for your money. While Super Visa insurance can be a significant expense, there are several strategies you can use to find affordable plans. By comparing quotes, adjusting coverage levels, and choosing the right provider, you can find the cheapest Super Visa insurance that still offers comprehensive coverage for your parents or grandparents visiting Canada.
Make sure to consider all the factors—age, health, duration of stay, and required coverage—when selecting a Super Visa insurance plan. With the right approach, you can secure affordable coverage that ensures your loved ones are protected during their stay in Canada.