Frequently Asked Questions | einsured.ca

Frequently Asked Questions

A contract covers payment of the insured amount up to its maturity date, for specified dates at periodic intervals, or for an unfortunate death, if it occurs earlier.

There are two main hazards of life that specific life insurance policies protect against, namely the risks of dying prematurely and leaving a dependent family to care for themselves as well as the risks of living into old age without financial security.

There are two main types of life insurance: Temporary Life Insurance for short-term needs and Permanent Life insurance for long-term needs.

There are many benefits to life insurance, including security for the future of your children, your financial security after retirement, and your family's security in the event of an untimely death. You can also redesign your tax structure to benefit your family, and repay your mortgage with ease.

For single people, life insurance is necessary to cover any sort of financial obligations such as loans or outstanding credit card payments so that in the case of any untoward incident, their parents remain free from any financial burden.

Yes, absolutely. The purpose of life insurance is to provide financial security for your family in the wake of your death.
It actually makes financial sense to buy life insurance if you are young as:
● it helps you lock in lower rates (premium) with guaranteed coverage
● later in life, you may develop health issues and may no longer be eligible for insurance or may have to pay a heavy price for it.

Purchasing life insurance will secure your spouse's comfortable lifestyle even if you do not have children and will provide a stable financial future for your spouse in your absence. In view of the fact that your spouse will still have to pay for the loan's monthly installments, life insurance will help her/him cope and move forward.

Yes, certainly. It’s very important to get your insurance policy reviewed by an expert advisor at regular intervals.
Your requirements coverage may have changed as a result of:
● Increased income
● A new baby in the family
● You need to insure a key employee who is vital to your company's success
● Financial safety for aging parents
● New features/new policies are better suited to your needs than what you purchased six years ago

Life insurance is a valuable financial tool that you need until you accumulate sufficient liquid assets and/or decrease your dependence. You cannot speculate on the time of your death.
Your loved ones may not have other means of income if you die prematurely without insurance coverage or after your current assets have depleted.
As such, you should never put this decision off and you should consider purchasing insurance as a priority.

Compared to the valuable financial security that life insurance offers, the price holds relatively little significance, as it depends on how much coverage you need, how much you can save for it, and which insurance company you choose.
Nowadays, online tools are available at your fingertips for you to shop, compare, save, and buy plans that offer you a guaranteed return on your investment.

Super Visa Insurance can be bought by Canadian citizens or permanent residents to offer protection to parents or grandparents visiting them on a Super Visa.

Several factors are considered before approving a Super Visa:
● Applicant’s ties to the home country
● Purpose of the visit
● Applicant’s family and financial situation
● Overall economic and political stability of the home country
● Financial support and proof from child or grandchild in Canada who meets a minimum income threshold
● Medical insurance from a Canadian provider for a minimum of $100,000 with validity of at least 1 year
● Duration of stay in Canada
● Completion of Immigration Medical Examination (IME).

There are no age restrictions to apply for a Super Visa. You need to be a parent or grandparent of a Canadian citizen or permanent resident.

As per the Government of Canada, you are eligible to purchase this insurance if you are a visitor to Canada who is not covered under a provincial or territorial government plan.

The policy can be purchased through credit card, cash or cheque.

Most companies do not allow you to buy insurance for more than one year. However, in some cases , some companies may offer 18 months or 2 year plans.

As for the benefits and policy wording, there is no difference between the two plans. Both plans provide coverage for medical emergencies you may face during your permitted stay.
The only difference is in the type of visa.
Under the visitor visa, the government of Canada allows most visitors to stay for up to six months. . Those who wish to stay longer have to apply for an extension by paying an additional fee every six months.
With the Super Visa program, eligible family members will pay a one time application fee to stay with their family members for up to 2 years at a time. It is a multi-entry visa which is valid for up to 10 years.

If you are a Super Visa holder or applicant, then it is compulsory to purchase insurance for a minimum of 365 days with a coverage of $100,000 or more. Later you can get a partial refund with proof that you returned early with no claim filed, if you visited for less than a year.

Yes, the insurance companies reimburse the full premium amount upon receipt of the visa denial document.

Yes, the plan is very flexible. The effective dates of the policy can be changed, as long as the policyholder or the purchaser provides the insurance company with the new effective date before the original start date.

If the visa is not granted or the applicant is not arriving on the date mentioned on the policy effective data, the policy can be modified with a new effective date after showing a valid travel document. A fee may apply if the date change is requested after the policy has started.

This type of insurance policy only covers acute and unexpected medical situations. Regular checkups are not covered in this plan.

It is a medical condition, illness or injury known to the client prior to travel. For the condition, the client may have received medical consultation, diagnosis and/or medical treatment by a doctor.

Yes, coverage for pre-existing medical conditions may be offered. Please contact one of our advisors to discuss your case.

It depends on the pre-existing condition, and the terms and conditions of the policy.
In our experience, insurance companies offer plans that cover pre-existing conditions as long as they have been stable for a certain period of time (usually 180 days) before departure from your home country. You have a higher chance of getting covered for a pre-existing medical conditions you meet these criteria:
● There have been no new symptoms, more frequent symptoms or severe symptoms
● There has been no change in treatment or change in medications
● There has been no deterioration of your medical condition
● There has been no hospitalization or referrals to a specialist including initial follow-up visits, tests or investigations booked in conjunction with a medical condition/symptom
● There is no further testing, treatment or investigation booked or results pending
● You have not experienced a symptom that remains undiagnosed
● No further medical treatment after departure is anticipated

There may be some medical questions in your online application. It will allow us to get a comprehensive medical picture of your health so that we can provide the best insurance policy for your situation. You must answer all questions truthfully, otherwise your coverage may be voided.
In the event of claim submission, the insurance company will investigate to determine if your condition was a pre-existing one, and/or whether you were truthful in your application.

Yes, provided that the journey starts to and from Canada and the majority of the time is spent there, the same plan may cover you in other countries except your home country.
However, super visa Insurance will not provide coverage if you travel to a country where the Department of Foreign Affairs of Canada has issued a warning to avoid travel.
Please refer to your insurance policy or consult one of our advisors to learn more.

The payee (who purchased the policy) will get a partial refund on a prorated daily basis, provided no claims were reported or soon to be reported.

Every insurance company has a claims department or a claims management third-party company for handling claims. If an emergency arises, you must call the assistance company right away to get the best help available free of charge.

Usually, it takes 3 to 10 business days for the refund to be processed.

Yes, the insurance can be renewed for another year. If there are claims reported, those conditions will be termed as pre-existing conditions.

Under the super visa insurance plan, following benefits are included:
● Hospitalization, medical and extended health care.
● Repatriation costs are covered
● Funeral Expenses are covered
● Some Pre-existing Medical Condition Covered
● Flexible Plan Dates: Your plan can start at any date and you can also change the effective date of policy in case the plans change
● Built-in Accidental Death Benefit in some plans: If you die unexpectedly from an accident, we will cover the total face amount of your insurance policy
● Best Rates Available: On top of the benefits, you will also receive our best rates – find out how!

There will be no refund of a premium if a claim has been reported. Refunds for partial cancellations will be calculated by multiplying the daily premium by the actual number of days the policy was in effect; if this amount is less than the minimum premium required, the minimum premium will be used.
This amount is then subtracted from the total premium paid minus any administration fee and paid to the original method of payment.
i.e. total premium paid $3,650 for 365 days. If stayed for 200 days, the rest of the 165 days premium equalling $1,650 minus any administration fees as per your policy wording.

A deductible refers to the amount that the insured must pay before they are reimbursed for the eligible medical expenses.
Usually, a deductible provides premium savings ranging from 10% to 45%.

Yes, full refund is available in case a visa is denied, after showing a proof of the denial letter.
In some cases, a fee may be applied - please refer to your policy wording.