Frequently asked questions
Premiums for life Insurance are based on gender, age, smoking status, amount of coverage, type of life insurance (term / permanent) and medical history.
Life Insurance can fit into ANY BUDGET, and there is no right or wrong.
In certain scenarios, it makes sense to have a shorter period of coverage with higher amount of coverage. For others, stretching the period of coverage with lower amount of coverage works the best.
It all depends on your needs.
- To cover mortgage, loans, debts;
- To support parents, sibling, family members or friends depending on you financially;
- To cover for funeral and final expenses;
- To give a gift for charity.
- Term policies are cheap when children are young & healthy. Often Term policy can be converted to a Permanent policy without proof of insurability.
- Permanent Life Insurance is commonly paid-up and gifted by parents or grandparents to their children.
To determine the right amount of coverage for life insurance you can:
- Complete Financial Need Analysis (FNA);
- Know the types of Life Insurance (Term / Permanent) and its advantages and disadvantages;
- Make a decision based on your budget and needs.
The younger and healthier you are, the cheaper your premiums/monthly payments will be.
Yes, you can apply for life insurance through another insurance company. There are companies that would protect “hard to insure” people, or without medical exams at all.
No, Insurance companies offer various Critical Illness Insurance products. Usually insurance companies have Basic option that covers 3 to 4 critical illnesses and Enhanced option that covers 25 critical illnesses.
When deciding what amount to apply for it is common to consider 1-2 years of your annual earnings. It should cover drugs / treatment expenses, time off work, travel, food and accommodation near to treatment center.
If you add Return of Premiums (ROP) rider to your critical illness insurance policy, you can get a portion or all of your premiums paid, if there was no claim on the contract during the policy term.
ROP rider is not available in all insurance companies.
Disability Insurance Premiums are based on gender, age, smoking status, occupation, annual income, waiting period and benefit period. The riskier your occupation is, the higher your monthly premiums will be.
- Self- employed
- Business owners
- Employees that don’t have it included in their group benefit plan and want to add it.
- Amount of coverage - Canada’s health care system is one of the most expensive in the world. Amounts of coverage vary from $10,000 to $300,000. Consider the age of the person and the medical history to assess for potential risk of emergencies.
- Deductible - is how much you would pay in case of a medical emergency. Deductibles vary from $0 to $10,000. The higher the deducible is, the lower policy premium will be.
- Pre-existing conditions - a medical condition that was stable prior to arrival to Canada. Every company defines stability and its period differently. Typically it’s 180 days to have a stable medical condition before you arrive to Canada.
The Canadian government requires purchasing an emergency medical insurance for 365 days and $100,000 minimum amount of coverage, from a Canadian insurance company. This should be purchased before you submit the application for Super Visa.
In case of an emergency please call on the emergency contact number appears on your Policy confirmation / Emergency wallet card as soon as possible and prior to seeking medical attention, or within 24 hours. The insurance company will open a claim and guide you on the next steps, please follow their instructions. Keep all original receipts of your expenses. The insurance company will try to accommodate as much as possible to pay directly to the medical facility, if it is possible.
Yes, you are the client and you deserve to be served appropriately. Feel free to reach out to me for assistance with your existing policies.
Life changes and so may your insurance needs
- You may have an insufficient coverage / type of insurance;
- You may decide to change beneficiaries in the policy;
- You may have a new banking information or mailing address.
Yes, waiting period and exclusions may apply depends on the insurance company.
No, Visitors to Canada Insurance covers emergency cases, sudden and unforeseen circumstances. Preventative care and routine check-ups are not covered by Visitors to Canada Insurance.
Yes it would, after a careful review of the claim by the underwriting team. They will verify that premiums were paid on time and that all terms and conditions of the contract are met.
Yes, there are Private Health & Dental plans that can be purchased or if you are employed and these are part of Employer Group benefits. These plans are intended to fill the gaps that provincial health plan does not cover, such as:
- Prescription drugs
- Dental coverage
- Vision
- Paramedical services
- Travel Insurance
- Ambulance and more.
Critical Illness insurance is a single payout paid to the insured when diagnosed with one of the covered conditions in the policy, whereas, Disability insurance replaces a portion of an income when the insured is unable to work due to an accident or an illness.