How Much Does Super Visa Insurance Cost?

Seven factors that commonly affect the premium

What IRCC requires and what still remains your choice

Current IRCC rules require the health insurance policy to:

• —be valid for at least one year from the date of entry;
• —provide at least $100,000 in emergency coverage;
• —cover health care, hospitalization and repatriation;
• —come from an eligible insurer;
• —be paid in full or in instalments with a deposit; and
• —be valid for each entry and available for review when requested.

Within those requirements, families may still need to choose the insurer, deductible, coverage amount above the minimum, and the plan's treatment of pre-existing conditions.

IRCC acceptance does not mean two compliant policies provide identical protection.

Why age can change the quote substantially

Insurance pricing reflects risk rather than the number of doctor visits a person expects to make. Older age bands generally carry higher premiums even when the applicant feels healthy.

Ask which age the insurer uses: age on the application date, purchase date, effective date or another specified date. If a birthday is approaching, do not manipulate dates; obtain accurate quotes for the actual planned entry and policy timing.

Does medical history always increase the price?

Not in the same way under every plan. Some products exclude pre-existing conditions without individually pricing each diagnosis. Other plans offer an option for eligible stable conditions, use age-based medical questions or place the applicant into a different plan category.

The cheapest quote may exclude the condition the family is most concerned about. Compare whether the condition can qualify for coverage and how the policy defines "stable," not simply whether the application was accepted.

How to think about the deductible

Compare at least two scenarios:

1. 1.the premium paid if no claim occurs; and
2. 2.the premium plus the amount the family may need to pay if an eligible claim occurs.

A higher deductible may be reasonable for a family that can comfortably retain more risk. A lower deductible may be preferable when predictable out-of-pocket exposure matters more than minimizing the upfront premium.

Do not assume every insurer applies the same deductible in the same way.

$100,000 versus a higher coverage amount

$100,000 is the current IRCC minimum, not a guarantee that every medical event will cost less than that amount. Hospitalization, intensive care, surgery and medical transportation can create significant expenses.

When comparing a higher limit, look at:

• —the additional premium;
• —the applicant's age and health considerations;
• —the deductible;
• —benefit sub-limits and exclusions; and
• —the family's capacity to pay expenses above the policy limit.

More coverage is not automatically better if the underlying plan is unsuitable, but the minimum should not be selected without considering the risk.

Instalments, deposit and total premium are different

IRCC currently allows a policy to be paid in full or in instalments with a deposit. An instalment arrangement is still evidence of a qualifying one-year policy when it meets the applicable requirements; it is not the same as buying one month of insurance at a time.

Before choosing instalments, confirm:

• —the total annual premium;
• —the initial deposit;
• —payment frequency and due dates;
• —any instalment or administration charge;
• —what happens after a missed payment;
• —cancellation and refund conditions; and
• —what proof of insurance will be issued for the application and entry.

The smallest first payment is not necessarily the lowest total cost.

How to compare quotes on an equal basis

Use the same information for every quote:

• —applicant's exact date of birth;
• —planned entry and coverage dates;
• —coverage amount;
• —deductible;
• —accurate medical answers;
• —pre-existing-condition coverage option;
• —payment method; and
• —number of applicants.

Then compare:

1. 1.total premium, not only monthly payment;
2. 2.deductible structure;
3. 3.eligibility and stability wording;
4. 4.benefit limits and important exclusions;
5. 5.assistance and claim requirements; and
6. 6.date-change, cancellation and refund terms.

If one quote is much cheaper, identify the contractual difference before assuming it is better value.

Information needed for an accurate quote

Prepare:

• —each applicant's date of birth;
• —planned arrival date and required coverage period;
• —requested coverage amount and deductible;
• —diagnoses, symptoms and current medications;
• —recent medication or treatment changes;
• —pending tests, referrals or procedures;
• —preferred payment method; and
• —whether the policy is for a new application, re-entry or renewal.

Incomplete health or date information can make a price comparison meaningless and may affect coverage later.

How Excevia helps

Excevia can compare available plan structures using consistent applicant information and show which part of the price difference comes from the deductible, coverage limit, medical-condition option or payment arrangement.

We cannot guarantee future rates, eligibility or claim outcomes. The issued policy and insurer's current rate table control the actual premium and coverage.

Super Visa Insurance cost FAQs