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Canada: Finance, Real Estate, Insurance, Immigration

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Сайт рассылки: http://arbetov.ca
Открыта: 26-03-2010

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Михаил Арбетов

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Canada: Finance, Real Estate, Insurance, Immigration:#30 Insurance for Super Visa and for visitors to Canada


Dear readers,

Today we get to know about:

1.Insurance for Super Visa and for visitors to Canada

2.Travel Insurance Canada

3.What is Critical Illness?

4.Super Visa is Good News for Many

Video content:

Immigration to Canada Provincial Nomination Program
Super Visa Visitors Canada Medical Insurance
 Сrisis 2008 Vancouver, Canada
RESP savings plans for their children's education
An insurance agent in Vancouver, British Columbia

Insurance for Super Visa and for visitors to Canada

According to the new immigration law, you can invite your parents to stay with you in Canada for up to two years. One of the main conditions to get this new Super Visa isto buy medical insurance from a Canadian insurance company.

The insurance has to be valid for one year with a minimum coverage of $100, 000. As of February 2012, such insurance is sold by 8 companies. Our agency has contracts with most of these companies. If your parents have been in good health, haven’t been to the doctor’s for the last 6 months and are fine with getting the ‘weakest’ insurance coverage, with a deductible of $1000 per claim, then the cost is, as illustrated below.

The minimum cost of insurance for a year for the Super Visa application, based on age, with no preexisting conditions.

Age Min quote in $
40-54 $1,007.40
55-59 $1,208.15
60-64 $1,408.90
65-69 $1,752.00
70-74 $1,890.70
75-79 $1,992.90
80-84 $3,219.30
85 $3,317.12
86-89 $4,025.95
90-95 $9,421.38

The prices are valid as of February 2012 and may go lower or higher in the near future. These quotes are not available in all Canadian provinces and are limited to BC, Ontario and a few other provinces. In Quebec, New Brunswick, Yukon and Nunavut the minimum cost is higher, because not all the insurance companies work there.

I hope many understand the importance of not just having an insurance that will help your parents and grandparents receive the Super Visa but also having a good coverage in case of an emergency.

Some people speculate as to why the Government requires the Super Visa insurance to be bought from a Canadian company. The reason is, because this kind of insurance is called aVisitors to Canada insurance, while the insurance bought in a different country would be considered a Travel Insurance. Although Travel Insurance is cheaper, it is mostly due to the fact that it comes as an addition to the visitor’s own government health plan. When the resident leaves his country, he might lose the rights to his health plan and with it the insurance coverage. He could stumble upon this problem when the insurance company will refuse to pay for his claim.

Another important thing to remember is that in case of an emergency you could call the Canadian insurance company, which will provide you with the location of the closest clinic or hospital. While you are on your way there, the insurance company would have already sent a fax with all of your information and much of the paperwork would already be dealt with.

Important information about insurance for Super Visa applicants, as well as for visitors to Canada and new immigrants:

  • If your parents’ Super Visa gets refused and you notify the insurance company before the effective date of the coverage, the insurance companies will refund the full amount you have paid for the insurance
  • If the visa processing takes longer than expected, the insurance dates are flexible and can be moved to a later date. Similarly, the insurance can start earlier than the  chosen effective date, as long as that date has not passed yet.
  • Some insurance companies have deductible per claim, while others- per period. In the first case you would need to pay the deductible amount with each visit to the doctor from your own pocket, while in the second case you would only have to pay it for the first time.
  • While some of the insurance companies do not have the option of a partial refund if the visitor goes back to their country of origin, a few companies offer a refund and take an administration fee of $25 or $100 in case of cancelation. The companies, however, require that you had not have any claims on your policy, in order to receive a refund.
  • Some of the companies do not provide insurance for customers that have been in Canada for over 30 days, while others enforce a waiting period of either 48 hours or 8 days, starting from the effective date of the insurance.
  • If you need to extend your insurance coverage for a longer period, it must be done not less than 48 hours before the expiry date of the policy. You might not be able to extend your coverage if there has been a claim on your file. Please remember to advise your agent of the possibility of extension, as some insurancecompanies do not offer coverage for people older than a certain age (79 for example.)



Our staff will gladly help you choose the right plan and provide assistance with all the organizational tasks incase your circumstances change. We will also help you buy medical insurance for new immigrants and  Canadian visitors.

Please contact us by calling 604-875-8878 or 604-568-5573
email arbetov.office@gmail.com

Travel Insurance Canada


Medical Insurance On-lineOur province didn’t get much luck this summer, when it comes to sunny weather and so many British Columbians are heading for vacations in other provinces or countries. When buying your plane ticket or preparing your car for a road trip, remember to get travel insurance for yourself and your family. Many can probably still recall the unfortunate story of a Victoria couple, which went on their honeymoon to Mexico and for some reason, forgot to get insurance. It would have cost them just $20. Later they were collecting donations from all over the world, because of the insane medical bills they have accrued.

Canada consists of 10 provinces and 3 territories.  Medical insurance in every single one of those provinces is completely diverse. Residents of a different province do not get the samecoverage as in their own province. That’s why insurance companies offer ‘Out of Province’ insurance. This type of insurance costs much less than ‘Out of Country” insurance and at times less than a dollar a day.  That dollar could save you from financial burden in case of medical woes outside of your province.

If you are traveling internationally, I recommend checking your ‘work benefits’ plan, as it may offer travel medical insurance and so you might be covered for all your trips. If you are purchasing tickets with a credit card, call the credit card company and see if your card includestravel insurance. Double check the expiry date for your policy, and if the coverage ends before the end of your trip, buy top-up insurance for the remaining time. It will only cost you a few dollars, but will help protect you from extra expenses in case of an emergency.

If you do not have insurance, you can buy it online at any time on our websitewww.arbetovinsurance.com. If you have any questions, our professional staff will be happy to help you. We work with most of the insurance companies in Canada and therefore can provide you with a large variety of insurance products. Just ask any of us to help you with your selection.

A little while ago a lady came by to our office, wishing to buy insurance for her trip to Australia. On her way there, she had plans to stop in U.S to visit her son. The trip was supposed to be 34 days long. After getting a quote of $256 from a travel company, offering her coverage for her travel from U.S to Australia, she came to us. Upon understanding the woman’s travel plans, our staff member explained that the policy she was offered at the travel agency would not work, as travel insurance only works when leaving Canada, she found a policy that would cover her from the moment she leaves the country until the day she comes back. The price for that policy ended up being much lower. Statistics show that the services of our insurance agency could significantly help our clients save money on medical travel insurance.

What is Critical Illness?

Critical Illness (CI) is a relatively new coverage in Canada that guarantees the payment of a lump sum benefit between $50,000 to $2,000,000 if you are stricken by a critical illness such as cancer or a heart attack. CI provides the financial resources to fill the gap that may be created between health insurance plans and other expenditures you may have or help replace lost income. This type of support can help tremendously in maintaining your quality of life and financial security during the recovery period and help you face your new challenges.

Government health plans and group insurance benefits are limited to basic medical and hospital care in Canada and Disability income coverage pays a monthly income only if you can’t work. For Critical Illness insurance, for example, if you suffer a heart attack and are able to return to work, CI still pays.

The maximum coverage amount available varies depending upon the insurance company issuing the plan. Each company exactly defines the critical illnesses they are covering in their policy contracts. Over 20 different illnesses may be covered extending cancer, heart attack and stroke to organ transplants, deafness and more.

You must survive a critical illness for a fixed period of time to receive the coverage amount, usually 30 days. In other words, if you suffered a heart attack, you must live at least that long to receive this payment.

If you suffer a critical illness, you do not receive the coverage amount as a monthly benefit. Instead, payment is made in full, as a lump sum amount. There are no conditions as to how you use the funds. The money unconditionally belongs to you. You are the one who decides how it will be spent.

We can help you secure your financial future by ensuring you have the money to keep your home and lifestyle should you be stricken with a Critical Illnesses covered under this plan. Contact us for more information or run your own quote at our websitewww.arbetovinsurance.com.


Michael Arbetov, CFP , FMA
tel: (604) 875-8878
fax: (866) 249-5260
e-mail: michael@arbetov.com
website: www.arbetovinsurance.com

Links to other materials about critical illness insurance

What is Critical Illness? 
Michael Arbetov “Can you financially recover from cancer, heard attack or a stroke?” 
Michael Arbetov “Links to Canadian insurance companies, which offer Critical illness insurance”
Official Canadian Organizations

CompCorp – Canadian Life and Health Insurance Compensation Corporation

CHLIA Canadian Life and Health Insurance Association Inc.

Medical and health statistic and information

Gold & Silver in Canada

October 15, 2012

Item Buys CAD Sells CAD Buys US Sells US
1 OZ GOLD BAR 
(1+ BARS)		 $1,667.00 $1,718.00 $1,675.00 $1,722.00
1 OZ GOLD BAR 
(10+ BARS)		 $1,667.00 $1,716.00 $1,675.00 $1,720.00
1 OZ GOLD BAR 
(50+ BARS)		 $1,667.00 $1,714.00 $1,675.00 $1,718.00
1 OZ GOLD BAR 
(100+ BARS)		 $1,667.00 $1,712.00 $1,675.00 $1,716.00
5 OZ GOLD BAR 
(1+ BARS)		 $8,327.00 $8,557.00 $8,365.00 $8,575.00
5 OZ GOLD BAR 
(20+ BARS)		 $8,327.00 $8,547.00 $8,365.00 $8,565.00
10 OZ GOLD BAR
(1+ BARS)		 $16,633.00 $17,094.00 $16,710.00 $17,130.00
10 OZ GOLD BAR
(10+ BARS)		 $16,633.00 $17,074.00 $16,710.00 $17,110.00
1 KILO GOLD BAR (32.15 TROY OZ.) $53,380.00 $54,669.00 $53,626.00 $54,784.00
1 KILO GOLD BAR 
(5+ BARS)		 $53,380.00 $54,604.00 $53,626.00 $54,719.00
1 OZ GOLD MAPLE
.9999 (1+ COINS)		 $1,674.00 $1,737.00 $1,682.00 $1,741.00
1 OZ GOLD MAPLE
(10+ COINS)		 $1,674.00 $1,734.00 $1,682.00 $1,738.00
1 OZ GOLD MAPLE 
(50+ COINS)		 $1,674.00 $1,730.00 $1,682.00 $1,734.00
1 OZ GOLD MAPLE (100+ COINS) $1,674.00 $1,727.00 $1,682.00 $1,731.00
1/2 OZ GOLD MAPLE
 $851.00 $909.00 $855.00 $910.00
1/4 OZ GOLD MAPLE
 $430.00 $463.00 $432.00 $464.00
1/10 OZ GOLD MAPLE $175.00 $193.00 $176.00 $194.00
1/20 OZ GOLD MAPLE $88.00 $114.00 $88.00 $114.00
1 OZ GOLD MAPLE 
.99999 RCMP		 $1,679.00 $1,772.00 $1,687.00 $1,775.00
1 OZ GOLD MAPLE DAMAGED / .999 $1,652.00 $0.00 $1,660.00 $0.00
1 OZ SILVER MAPLE (1+ COINS) $31.81 $33.88 $31.95 $33.95
1 OZ SILVER MAPLE (50+ COINS) $31.81 $33.63 $31.95 $33.70
1 OZ SILVER MAPLE (500+ COINS) $31.81 $33.53 $31.95 $33.60
1 OZ SILVER MAPLE (3,000+ COINS) $31.81 $33.43 $31.95 $33.50
1 OZ SILVER MAPLE (5,000+ COINS) $31.81 $33.33 $31.95 $33.40
1 OZ SILVER MAPLE ANTELOPE (2013) $31.81 $35.13 $31.95 $35.20
1 OZ SILVER MAPLE MOOSE (2012) $31.81 $35.13 $31.95 $35.20
1 OZ SILVER MAPLE COUGAR (2012) $31.81 $35.13 $31.95 $35.20
1 OZ SILVER ROUND (1+ ROUNDS) $30.96 $33.13 $31.10 $33.20
1 OZ SILVER ROUND (100+ ROUNDS) $30.96 $32.88 $31.10 $32.95
1 OZ SILVER ROUND (500+ ROUNDS) $30.96 $32.63 $31.10 $32.70
10 OZ SILVER BAR 
(1+ BARS)		 $310.00 $331.00 $311.00 $332.00
10 OZ SILVER BAR 
(10+ BARS)		 $310.00 $328.00 $311.00 $329.00
10 OZ SILVER BAR (100+ BARS) $310.00 $325.00 $311.00 $326.00
50 OZ SILVER BAR $1,548.00 $1,632.00 $1,555.00 $1,635.00
100 OZ SILVER BAR 
(1+ BARS)		 $3,096.00 $3,234.00 $3,110.00 $3,240.00
100 OZ SILVER BAR (10+ BARS) $3,096.00 $3,214.00 $3,110.00 $3,220.00
100 OZ SILVER BAR (50+ BARS) $3,096.00 $3,204.00 $3,110.00 $3,210.00
1 OZ PLATINUM 
BAR		 $1,512.00 $1,606.00 $1,519.00 $1,609.00
1 OZ PLATINUM MAPLE $1,552.00 $1,652.00 $1,559.00 $1,655.00



We recommend to visit websites:

Life insurance Ideas is the best way to get peace of mind. 
Insurance hints help you to save money on life and disability insurance. 
Lowest Insurance Quotes From Top Insurance Companies There are so many ways on how to get low insurance quotes. When you have full access to the internet, you will notice that there are hundreds of sites that offer low business insurance quotes which your company can afford. 
Best Dental Insurance blog helps you to find proper advice how to get the best appropriate dental coverage for your family and you. 

Insurance for Super Visa and for visitors to Canada

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